Interview & Tips from Gravity Payments' Senior Security Engineer Mick Grove

Ransomware | Risky Business Ep 01

Mick Grove and Dan Carroll discuss ransomware and how to protect yourself and your business from it. Ransomware is a type of cyber attack where an attacker encrypts your data and extorts you to pay them in order to receive the decryption key. Businesses of all sizes are at risk from this type of an attack, but Mick Grove illustrates simple and effective ways to protect yourself from being victimized this way.

Ransomware and How To Protect Yourself: Video


Steps to backup your information:

Use these links below for instructions on how to use one of the services mentioned by Mick Grove to backup your data and protect yourself from ransomware.

How to use Dropbox to backup your files

How to use OneDrive to backup your files

How to use CrashPlan to backup your files


ransomwareInterview Full Transcript:

Dan Carroll: What are the biggest threats to small businesses that aren’t Tron?

Mick Grove: What I thought was an interesting statistic to kick this off. I read an article today from the Denver Post where they talked about 60% of small businesses that suffer a cyber security breach often go out of business within six months. That is because they’re not prepared, so the biggest threats to them is that they have ransomware. This is a common tactic that criminals use and thats just simply, “Im not going to steal your company data, I will just encrypt your data.” So the things you use to run your business, you can’t access anymore.

Dan Carroll: This is like mafia style tactics. (Goes on a mafioso rant about extortion and requiring protection money)

Mick Grove: That’s actually a really good analogy it’s effectively extortion. They lock up all your data so you can’t get to it and they say, “you need to pay us within a certain amount of time. Then we will give you the decryption key.” People pay it, businesses in Seattle and throughout the country have reported paying this. If you are small you might pay $500, but larger businesses they will target for more money, and they know you’ll pay it. If you don’t have a back up that could put you out of business.

Dan Carroll: So how do people avoid that?

Mick Grove: So the best way to avoid it is to have regular back ups. Really if you have Quickbooks, if you have a payroll system, or important excel spreadsheets, you should be using an online back up service. Microsoft has one called OneDrive, there’s Dropbox, Box, Crashplan. There is a monthly cost associated with a lot of these.

Dan Carroll: But that monthly fee isn’t $500, Dropbox is like $20.

Mick Grove: No. Its a monthly cost and the benefit is, lets say you get ransomware. You don’t pay them, you just restore your backup and continue operating. You don’t lose days of business.

For more information on data security be sure to follow our Risky Business series throughout the week. For more information on Gravity Payments, or credit card processing in general click here to contact us. We reduce the costs and headaches of accepting credit card payments by providing simple, fair, and seamless solutions.

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