05/19/2021
You are not Colonial Pipeline, and that should scare you. (warning, this post is kind of long)
You've probably read about the recent ransomware attack on the Colonial Pipeline. Basically, Colonial is a huge pipeline operator that handles 45% of the East Cost's fuel delivery. 5500 miles of their network was shutdown because of the attack, and the company ultimately forked over $5 million to restore their systems. The president was briefed, and offered the governments resources to help. They were given unlimited funding to solve the problem. This was a "resume at all costs and efforts" operation.
And it STILL took them 5 days to get online, and there are STILL intermittent service interruptions.
Why should this be important to small business owners? It's because your business is likely not a nationally strategic pipeline. Nor with the government show up to save you. Nor do you have unlimited funding to solve such a massive security breach. Nor should you assume that you'll "only" be down for 5 days.
So what can we learn from this? An ounce of prevention is worth a pound of cure. Preventing a ransomware attack is far less expensive (even if it means deploying tools, systems, and policies that seem costly and time consuming) than going through an actual breach. This might include AI-based endpoint protection (MDR), security awareness training, multi-factor authentication, and enterprise-grade business continuity/backup systems (and more).
Stopping payments would go a long way to stopping ransomware. But the choice is never quite so easy.