Ransomware: What Swiss SMBs need to know and how to protect against it

Nicolas Lagrèze

March 9, 2023

Ransomware is malware that encrypts your files and demands payment in exchange for the decryption key. It’s a growing threat to Swiss SMBs, and it’s important to know what it is and how to protect against it.

Ransomware typically infects a computer or network through a phishing email or by exploiting a vulnerability in outdated software. Once it’s in, it encrypts your files and demands payment for the decryption key. The ransom can range from a few hundred to several thousand dollars, and payment is usually requested in Bitcoin or another cryptocurrency to avoid detection.

SMBs are at risk of ransomware attacks for several reasons. First, they often have limited resources and may need robust cybersecurity measures. Second, ransomware attacks are becoming increasingly sophisticated, making detecting and preventing them harder. Finally, they may be seen as attractive targets for ransomware attackers because they are likelier to pay the ransom. 

To protect against ransomware attacks, you should take several steps. First, ensure all software is current, and all security patches have been applied. Second, implement a backup system that stores copies of your files offsite and disconnected from your network. This will enable you to restore your files if they are encrypted by ransomware. Third, provide regular training to employees on recognising and avoiding phishing emails.

In addition to these preventive measures, you should also consider investing in cyber insurance. Cyber insurance can help cover the costs of a ransomware attack, including ransom payment, data recovery, and legal fees.

While it’s impossible to eliminate the risk of ransomware, Swiss SMBs can greatly reduce their risk and minimise the impact of an attack by taking these steps. Don’t wait until it’s too late – take action to protect your business from this growing threat.

Nicolas Lagrèze is the COO of Cyberion

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