Skip to main content
Tech Radar
  • Tech Radar Pro
  • Tech Radar Gaming
Tech Radar Pro TechRadar IT Insights for Business
Subscribe
RSS
Asia
flag of Singapore
Singapore
Europe
flag of Danmark
Danmark
flag of Suomi
Suomi
flag of Norge
Norge
flag of Sverige
Sverige
flag of UK
UK
flag of Italia
Italia
flag of Nederland
Nederland
flag of België (Nederlands)
België (Nederlands)
flag of France
France
flag of Deutschland
Deutschland
flag of España
España
North America
flag of US (English)
US (English)
flag of Canada
Canada
flag of México
México
Australasia
flag of Australia
Australia
flag of New Zealand
New Zealand
Technology Magazines
Technology Magazines
Why subscribe?
  • The best tech tutorials and in-depth reviews
  • Try a single issue or save on a subscription
  • Issues delivered straight to your door or device
From$12.99
View
  • News
  • Reviews
  • Features
  • Expert Insights
  • Website builders
  • Web hosting
  • Security
Trending
  • Best standing desk deals
  • Best cloud storage 2023
  • What is Microsoft Teams?
  • Expert Insights

When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works.

  1. Home
  2. Features
  3. Pro
Supported

5 common myths about ransomware

By Michael Graw
published 1 September 2022

Avoid falling for these ransomware myths and keep your data safe

In Association with

Perimeter 81 logo
Ransomware
(Image credit: Shutterstock)

Ransomware attacks are a near-daily threat to businesses of all sizes. In 2021, US businesses lost nearly $160 billion to ransomware attacks, and that number is expected to grow in the years ahead.

While many companies may be aware of the threat posed by ransomware, the vast majority are still vulnerable to attack. This is in part because companies easily fall for myths about ransomware, which leads to being underprepared for attacks.

In this article, we’ll debunk five common myths about ransomware that could be leaving your organization exposed to cybercrime.

Protect your business with Perimeter 81

There will be a new ransomware attack every 11 seconds. Protect your employees and network from ransomware attacks with Zero Trust. Enforce least privilege access policies across your organization in minutes based on user identity to safeguard all critical assets. Protect your business with Perimeter 81 - one of TechRadar’s top choices for Zero Trust providers.

View Deal

Myth #1: It won’t happen to my organization

One of the most common myths about ransomware is that it only affects enterprise-scale businesses with huge cash flows or highly sensitive data. This couldn’t be further from the truth. In fact, small businesses with a hundred or fewer employees are three times as likely to face ransomware attacks as larger corporations.

From the perspective of cybercriminals, small businesses (and even individuals) are the perfect target. This is because they often don’t have large IT teams, nor advanced network monitoring software that enterprise-scale companies use. Small businesses may also be less likely to use identity management software that could help prevent an attacker from moving through their networks. 

Even though cybercriminals might earn less money from a ransomware attack on a small business, the higher likelihood of success makes small businesses attractive targets.

Small business owners should never assume that they’re too small or too unknown to be the target of a ransomware attack. Every organization is a potential target, and it’s critical to take proactive steps to defend your network.

Myth #2: The ransom is the only cost of an attack

Another common myth about ransomware is that businesses can simply pay the ransom and make the whole thing go away. The ransom may be expensive, this reasoning goes, but it’s part of the cost of doing business.

The reality is that the costs of a ransomware attack can extend far beyond the ransom itself. First, there are costs related to work disruption. Even if your organization pays the ransom and gets your data back quickly, you’re likely to lose several days of work because of the attack.

In addition, there are costs for cleaning up after the breach. It’s often impossible to know if attackers stole sensitive data about your organization’s customers, so your business could face lawsuits, or be forced to pay for credit monitoring for thousands of customers. If protected information such as medical records or credit card numbers are potentially compromised, your business could face fines from regulators.

The reputational costs of succumbing to a ransomware attack can be devastating. Companies that fall victim to ransomware attacks could lose the faith of customers and vendors over the safety of data. If customers don’t trust your company to keep their personal information or credit card data secure, they’re much less likely to do business with you. Over the long run, the reputational damage of a ransomware attack could be catastrophic for small businesses.

Myth #3: Phishing is behind all ransomware attacks

Phishing is behind the majority of ransomware attacks. If an employee clicks on a malicious link in an email, they could be downloading ransomware directly onto their device, or unwittingly providing an attacker easy entry into your organization’s network.

However, educating employees about how to avoid online phishing isn’t enough because phishing isn’t the only way ransomware attacks begin. Many cybercriminals are able to exploit an unpatched piece of software, or weak passwords, to get into networks. It’s extremely important that your company keeps up with security updates, and uses a business password manager to secure your network.

See our pick of the best business password managers around

Myth #4: Antivirus software is enough to defend against ransomware

Having the best antivirus software plays a key role in ransomware defense. Antivirus software does a good job of stopping unsophisticated attacks, and detecting ransomware on your network before it can be activated.

However, antivirus software on its own isn’t nearly enough to stop more advanced attacks. Cybercriminals will often establish a beachhead in your network, and then spend weeks or months figuring out the best way to get around your antivirus software and firewalls. Even the best designed networks have weak points, and attackers will eventually find them if given enough time to probe the limits of your security system.

The only way to defend against these attacks is through active network monitoring. Organizations need to use access management software that can alert IT administrators to unusual activity, such as after-hours logins to critical data servers. Businesses should also consider requiring frequent password changes, and enabling multi-factor authentication for network access.

Myth #5: Backups are always safe

Data backups are the solution of last resort in a ransomware attack. Even if an attack is successful, your organization can avoid paying the ransom or losing data if you have intact backups.

You shouldn’t assume, though, that because your company has backups that they’re immune from attack. Cybercriminals are aware that many companies have data backups, so work to compromise them as part of their attack strategy. If your backups aren’t fully secured, they could be lost along with the rest of your organization’s data.

The best way to approach backups is to take a multi-tiered approach. Your company can use cloud backup software as well as keep physical backups that are disconnected from the network. If you do use backup software, it’s incredibly important to monitor access to your backups, and ensure there’s a strong firewall between your main business network and your backup servers.

Conclusion

These five myths about ransomware are all too common, and falling for them can end up leaving your organization more vulnerable to attack. Businesses should be more proactive in their defense against ransomware, and extra-vigilant to stay safe.

TechRadar created this content as part of a paid partnership with Perimeter 81. The contents of this article are entirely independent and solely reflect the editorial opinion of TechRadar.

Are you a pro? Subscribe to our newsletter

Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed!

By submitting your information you agree to the Terms & Conditions and Privacy Policy and are aged 16 or over.
Michael Graw
Michael Graw
Social Links Navigation

Michael Graw is a freelance journalist and photographer based in Bellingham, Washington. His interests span a wide range from business technology to finance to creative media, with a focus on new technology and emerging trends. Michael's work has been published in TechRadar, Tom's Guide, Business Insider, Fast Company, Salon, and Harvard Business Review. 

More about pro
Ransomware

This Google Workspace security flaw could let hackers quietly steal your Drive files

UEFA

Dodgy Champions League final streaming could be a serious own goal

Latest
The rainbow Apple WWDC 2023 logo

How to watch Apple's WWDC 2023 keynote

See more latest ►
Most Popular
5 blockbuster movies coming to Max in June that you can't miss

By Amelia SchwankeJune 03, 2023

The Garmin Fenix 7 Pro release highlights a big problem Garmin needs to solve

By Matt EvansJune 03, 2023

The Meta Quest 3 announcement is a slap in the face to Quest Pro owners

By Hamish HectorJune 03, 2023

End of an era: Sony's iconic XM3 headphones are finally flying to the big gig in the sky

By Becky ScarrottJune 03, 2023

Roku TVs' free channels are great, but there are too many – here's how to manage them

By Al GriffinJune 02, 2023

I visited the Diablo 4 chocolate shop and got yelled at by monks

By Cat BussellJune 02, 2023

9 TV shows coming to Hulu in June that you won't want to miss

By Carrie MarshallJune 02, 2023

Finished Ted Lasso? Here are 6 fun shows to watch next, on Netflix, Prime Video, Hulu and more

By Tom GoodwynJune 02, 2023

These graphics cards prove that watercooling is going mainstream

By John LoefflerJune 02, 2023

How to keep your pillows fresh in summer

By Jim McCauleyJune 02, 2023

The wildest PC builds I've seen at Computex 2023 — and one of the loveliest

By John LoefflerJune 02, 2023

  1. Lee Pace's Brother Day points his finger at Jared Harris' Hari Seldon's AI construct in Foundation season 2
    1
    5 upcoming TV shows that mean Apple TV Plus could replace your Netflix subscription
  2. 2
    The wildest PC builds I've seen at Computex 2023 — and one of the loveliest
  3. 3
    Diablo 4's authentication servers are down, preventing players from logging in
  4. 4
    There's a new Gmail verification scam; here's how to avoid getting caught up in it
  5. 5
    Roku TVs' free channels are great, but there are too many – here's how to manage them
  1. A render of the rumored Apple Reality Pro headset on a grey background
    1
    Latest Apple VR headset leak gives us clues about how it might get used
  2. 2
    Roku TVs' free channels are great, but there are too many – here's how to manage them
  3. 3
    Finished Ted Lasso? Here are 6 fun shows to watch next, on Netflix, Prime Video, Hulu and more
  4. 4
    The Garmin Fenix 7 Pro release highlights a big problem Garmin needs to solve
  5. 5
    There's a new Gmail verification scam; here's how to avoid getting caught up in it
Technology Magazines
  • ●
Technology Magazines
  • The best tech tutorials and in-depth reviews
From$12.99
View

TechRadar is part of Future US Inc, an international media group and leading digital publisher. Visit our corporate site.

  • About Us
  • Contact Future's experts
  • Contact Us
  • Terms and conditions
  • Privacy policy
  • Cookies policy
  • Advertise with us
  • Web notifications
  • Accessibility Statement
  • Careers

© Future US, Inc. Full 7th Floor, 130 West 42nd Street, New York, NY 10036.