Educate all your employees on what phishing is and how to avoid it: Make sure to cover not just phishing, but also whale phishing and spear phishing. Perform background checks on all of your employees: If a potential employee has a criminal past, especially one involving digital fraud, this could be a red flag.ĥ. Use firewalls and anti-malware: These types of cybersecurity protections shield your system from malware that hackers use to execute ransomware attacks.Ĥ. Have a solid understanding of the data your business needs to operate: Knowing which data is essential to your organization's operations gives you a better idea of the assets you need to protect.ģ. Back-up files and data: With a backup that is readily available, even if you get hit with a ransomware attack, you still have access to the files and data you need to keep operations going smoothly.Ģ.
#Cyber extortion update
Expenditure on IT infrastructure and creating a separate budget to update IT security every year is a must-do activity.To safeguard your organization from cyber extortion and save yourself from having to pay huge sums of money, as recent cyber attacks, here are 12 things you can do:ġ. As India is in its growing phase and the cyber world has become a critical component to running a business, organisations must be updated on cyber threats and how to mitigate them. Cyber insurance can help protect businesses from financial losses due to cyber incidents that could harm their reputation, customer trust, and bottom line.Ĭyber threats are one of the key reasons for financial losses which mainly happen through cyber extortion.Liability and damages owed due to the loss of confidential information or personally identifiable information (PII).Damage to computer systems, networks, and data caused by a cyber-attack.It helps in managing cyber extortion cases in a more scientific manner. Cyber extortion and ransomware demand and negotiator fees.Costs associated with public relations and crisis management.Loss of income and additional expenses incurred during recovery from the cyber incident.Legal fees and regulatory fines associated with a data breach or cyber-attack.Cyber insurance policies may vary in coverage depending on the insurer, but in general, they can cover a range of costs, including: It typically covers expenses associated with investigating and responding to a cyber incident, as well as liability and damages to third parties due to loss of company or customer data. Regularly backing up important data and files to protect against data loss or ransomware attacks.Ĭyber insurance is a form of insurance that provides coverage against losses resulting from cyber-attacks, data breaches, and other online threats including cyber extortion.Considering a Virtual Private Network (VPN) to secure internet traffic.
#Cyber extortion software
Installing and regularly updating anti-malware and antivirus software on all devices.Using strong and unique passwords for all online accounts and changing them regularly.Keeping all software and operating systems up to date with the latest security patches and updates.
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