Fact: Paying the ransom offers no guarantees. Cyber criminals may not decrypt your data and could still publish stolen information. Companies that pay may be viewed as soft targets and attacked again.
Myth: My company will be safe once the ransom is paid.
Myth: Implementing basic cyber security measures for my company is expensive.
Fact: The cost of basic cyber security measures ranges from $1,800 to $4,500 — a tiny fraction of potential losses from business disruptions and recovery after a cyber incident. Various government funding schemes are available to help offset these implementation costs.
Myth: Having a firewall and anti-virus software provides sufficient protection against ransomware.
Fact: While firewalls and anti-virus software help, they’re just one part of comprehensive protection. Organisations need a multi-pronged approach that includes cyber security training, regular offline data backups and clear incident response plans.
Myth: Small companies without IT staff can’t implement proper cyber security.
Fact: SMEs can access expert help through the CISO-as-a-Service scheme, which provides qualified CISOaaS consultants to guide protection efforts.
