How should a company handle ransomware | Ricoh USA (2024)

Responding to a ransomware attack

Rule #1: If at all possible, don't pay the ransom!

What you do is up to you, but here are a few things to consider before you consider paying the ransom.

Even if you do not have a backup system in place, the cost to rebuild your database will be partially offset by the expense of the unpaid demand, especially if the ransom is for hundreds of thousands or millions of dollars.

Remember, you are dealing with unethical criminals here and there is no guarantee that your files will be decrypted/returned even if you pay the ransom. Further, once attacked and the criminals know you are apt to pay the ransom, they’ll be back.

Assuming your organization is able to not yield to the hacker’s demands, follow these steps:

1. Isolate and contain

Immediately disconnect infected computers and servers from the network. Ensure wireless connections are disabled as well. If not sure which front-end assets are infected, or if the ransomware is still actively spreading and encrypting files, disconnect storage devices before they become infected.

Do not attempt to reboot, install updates, or perform maintenance to affected machines as this may result in permanent data loss or damage.

2. Attempt decryption

There are many decryption tools commercially available from anti-virus software manufacturers, some are downloadable for free. Depending upon the type of malware strain used in the attack you may be able to recover your data.

3. Install anti-malware software

These applications search for known ransomware code strings across your entire system so that IT administrators can scrub the network of any traces of the virus. Anti-malware programs do not decrypt infected files, but they alert IT to the presence of ransomware and help prevent infections from spreading.

4. Restore

If you have clean versions of your files and databases safely stored off-line, use data backups to restore your systems to the latest possible state before the attack occurred. Some types of ransomware will require a complete reformat of storage media and a reinstall of the operating system and all applications to be sure all code is removed.

Next, reset all system passwords after the ransomware has been completely removed.

5. Report

Notify affected parties such as supply chain partners, customers, or vendors that may have access to your systems and alert them to your breach so they can take preemptive measures to secure their own networks.

Small businesses should report ransomware attacks to the local FBI field office and the provider of your anti-malware software. Employees in larger organizations should immediately report ransomware incidents to the IT helpdesk or cybersecurity office.

Related content

Article: Protecting against ransomware attack

Rapid response is key, have an incident response team

Every organization should assemble an incident response team (IRT) with defined roles and strategies. Each member must be prepared to manage one facet of the cyberattack response playbook, i.e., containment, restoration, notification, etc.

A quick, coordinated response is critical to containing the infection and limiting the damage.

However, the best way to manage the threat of ransomware is through preparation and prevention. Part of the IRT’s mission is to ensure business continuity through the development of disaster recovery (DR) procedures or engaging with DRaaS providers and other managed security services to recover from any attack or disaster, not just ransomware.

One of the fastest responses to ransomware is an isolation software.

Bullwall Ransomware Containment, for example, provides a last line of defense and an additional layer of protection against ransomware threats through instant detection of attacks that have bypassed perimeter defenses. It automatically isolates infected devices to help minimize the impact of a successful ransomware attack.

Our Ransomware Containment solution works in the background, constantly monitoring your network without impacting performance. For more about Ransomware Containment works visit our Ransomware Containment services page.

No solution provides 100% protection 100% of the time. But there are steps you can take to protect your organization.

How should a company handle ransomware | Ricoh USA (2024)

FAQs

How should companies handle ransomware attacks? ›

Responding to a ransomware attack
  • Isolate and contain. Immediately disconnect infected computers and servers from the network. ...
  • Attempt decryption. There are many decryption tools commercially available from anti-virus software manufacturers, some are downloadable for free. ...
  • Install anti-malware software. ...
  • Restore. ...
  • Report.

What is the first thing you should do if your company is facing ransomware? ›

First, disconnect the infected computer or device from your network. If your data has been stolen, take steps to protect your company and notify those who might be affected. Report the attack right away to your local FBI office. Check to see if you can restore your systems from back-ups.

What advice would you give a company to avoid ransomware? ›

Your backup files should be appropriately protected and stored offline or out-of-band so they can't be targeted by attackers. You can use cloud services to help mitigate a ransomware infection, as many of these services retain previous versions of files that allow you to roll back to an unencrypted version.

What happens when a company gets ransomware? ›

Additionally, companies can lose money due to the costs of remediating the infection, lost business, and potential legal fees. Data Loss: Some ransomware attacks encrypt data as part of their extortion efforts. Often, this can result in data loss, even if the company pays the ransom and receives a decryptor.

Do companies pay ransomware attacks? ›

Companies aren't paying ransoms like they used to

By the numbers: 29% of organizations paid a ransom in the last quarter of 2023 to get their stolen data back and unlock their systems during a cyberattack, according to Coveware's report, released Friday.

What is the 3 2 1 rule for ransomware? ›

3 – Keep three copies of any important file: one primary and two backups. 2 – Keep the files on two different media types to protect against different types of hazards. 1 – Store one copy – or “go bag” – off-site (e.g., outside the home or business facility).

Do companies have to report ransomware attacks? ›

Ransom Payment Reporting Requirements: CIRCIA requires CISA to develop and issue regulations requiring covered entities to report to CISA within 24 hours of making any ransom payments made as a result of a ransomware attack.

What is the first action to take against ransomware? ›

Any initial sign of a ransomware attack should prompt a user to immediately disconnect from the law firm's IT network by removing both hardwired (LAN) connections and Wi-Fi access. Once it's completely disconnected from any other system, the computer can be assessed for possible damage.

What are the top 3 causes of successful ransomware attacks? ›

Root causes of ransomware attacks in organizations worldwide as of February 2024
CharacteristicShare of respondents
Exploited vulnerability32%
Compromised credentials29%
Malicious email23%
Phishing11%
2 more rows
Sep 2, 2024

What happens if you don't pay ransomware? ›

What Happens if You Don't Pay Ransomware Attackers? Typically, nothing else will happen if you don't pay ransomware attackers, but your data will still be encrypted. You will need to restore your files from a backup, or determine if a decryption tool can be used.

What are some ways to respond to ransomware? ›

Use these steps to eradicate the threat and recover damaged resources.
  • Step 1: Verify your backups. ...
  • Step 2: Add indicators. ...
  • Step 3: Reset compromised users. ...
  • Step 4: Isolate attacker control points. ...
  • Step 5: Remove malware. ...
  • Step 6: Recover files on a cleaned device. ...
  • Step 7: Recover files in OneDrive for Business.
Apr 22, 2024

Does ransomware go away if you pay? ›

Ransomware hackers are criminals first and foremost. So even if you pay the ransom, there's no guarantee that you'll get your stolen data back. While some criminals may give you a decryption key, it will still be difficult to regain access to your data. Funding criminal activity.

Can you sue for ransomware? ›

If a business failed to exercise adequate cyber security measures to prevent a ransomware attack, a customer may be eligible to file a lawsuit. If you suffered a financial loss because of a ransomware attack, contact us for a free, no-obligation legal review.

How do ransomware hackers get paid? ›

The attack will conclude with demands for the company to pay a ransom, usually in cryptocurrency, or else the hacker will release, delete or sell the stolen data. Either way, the hacker makes a profit, unless they choose to leave the data encrypted or simply delete it.

What capabilities can companies develop to ensure they can handle ransomware attacks? ›

Here are five ways businesses can protect themselves and their data against ransomware attacks.
  • Use a zero trust approach. ...
  • Use multifactor authentication (MFA) ...
  • Back up data regularly. ...
  • Focus on preventing phishing. ...
  • Keep employees on alert for vishing.

What steps can a company take to improve its capacity to respond to ransomware attacks? ›

9 Steps to mitigate ransomware attacks
  • Establish routine network backups and updates. ...
  • Institute cybersecurity plans and policies. ...
  • Review available ports, protocols and services. ...
  • Conduct routine network security assessments. ...
  • Improve password hygiene. ...
  • Segment your network. ...
  • Enhance endpoint security.
Nov 30, 2022

What can be done about ransomware attacks? ›

Email security tools and anti-malware and antivirus software are critical first lines of defense against ransomware attacks. Organizations also rely on advanced endpoint security tools like firewalls, VPNs, and multi-factor authentication as part of a broader data protection strategy to defend against data breaches.

How should organizations be ready for ransomware? ›

It's important not only to have secure backups of all your important data, but also to make sure that backups are kept isolated so ransomware can't readily spread to them. recover operating systems, databases, user files, applications, and software systems configurations.

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