Ransomware. We read about it a lot, but until we see that screen locked up, and get the sinking feeling in the pit of our stomach that all of our data is lost – or at least stolen and copied – the importance of protecting our key data is not as acute as it should be.
With the increase in ransomware attacks, protecting data has become a top priority for businesses of all sizes.
In this blog post, we will discuss the challenges organizations face in protecting their data from ransomware attacks, and what they can do to mitigate these risks.
From a data perspective, companies need to control their data and prevent breaches, while simultaneously complying with regulatory and cyber insurance requirements.
Control and Protect Company Files
One of the biggest challenges facing organizations today is controlling and protecting company files. With employees accessing company data from multiple devices and locations, it has become increasingly difficult to maintain control over who has access, and to what data. This makes it easier for ransomware attackers to infiltrate company networks and hold sensitive data hostage.
To mitigate this risk, organizations need to implement access controls and encryption to ensure that only authorized personnel have access to sensitive data. Regular backups of critical data should also be conducted and stored in a secure location to enable a quick recovery in case of a ransomware attack.
As important as these risk mitigation strategies are, they still do not solve the core problem. If your organization is attacked, and attackers get hold of sensitive data, this data is now likely to be sold to the highest bidder, putting your customers at risk – not to mention your business model.
Meet Regulatory and Cyber Insurance Requirements
Organizations also face challenges in meeting regulatory and cyber insurance requirements related to data protection. For instance, the General Data Protection Regulation (GDPR) requires companies to protect the personal data of citizens, while cyber insurance policies may require specific data protection measures to be in place before providing coverage.
To meet these requirements, organizations must ensure that their data protection policies and procedures are up to date and comply with relevant regulations. This may include conducting regular risk assessments and implementing appropriate security measures to protect sensitive data.
Track Files Beyond Company Boundaries
Another challenge facing organizations is tracking files beyond company boundaries. With the increase in remote work, employees are accessing company data from outside the office, and this data may be stored on personal devices or cloud storage services that are beyond the organization’s control.
To mitigate this risk, organizations need to implement file tracking solutions that enable them to track the movement of sensitive data beyond company boundaries. This will enable them to identify potential security risks and take appropriate action to protect data.
Enter Virtual Vaults from ITsMine
ITsMine’s Virtual Vaults give you the ability to create multiple “Virtual Vaults” within your central file storage system, including popular platforms such as OneDrive, Google Drive, Dropbox, NetApp, and various Windows/Linux file storage systems.
You can be in full control of your sensitive files at all times – by simply transforming any folder into a secure digital space, you can ensure that every file is protected end-to-end, even outside of your organization’s boundaries. This innovative solution provides an easy and efficient way to safeguard your files with just a few clicks.
Virtual Vaults also give you access to FileGPS™ and File Timebomb™.
FileGPS™ allows files to “call home” to you, letting you know exactly where the file is, who has opened it, when was it taken out of the vault; including who took it out, and what additional resources were taken out with it.
File Timebomb™ lets you set expiration dates on files outside of the Vault; at the expiration date, the files outside of your company’s Virtual Vault become locked and unusable, even beyond the company boundaries, and on any device.
To see how you can benefit from having Virtual Vaults protecting your most sensitive data – and making ransomware attacks essentially impossible – set up a call with a product expert here.