See it coming… Do you have a Plan B?

I planned to write this blog for the MSME readers in the backdrop of recent events with large, capable, and resourceful corporations.

The last week of June 2020 was full of Cyberattacks. Interestingly, global IT enterprise Cognizant that provides CyberSecurity to its customers was affected itself. They estimate to spend 70 million to set the things right. It is going to damage its reputation and customer confidence in great magnitude. Check these links.

https://www.crn.com/news/channel-programs/cognizant-contains-maze-ransomware-attack-as-cleanup-costs-spiral

Another example is the Indiabulls Group, a leading NBFC. They were hit by ransomware and given deadlines to pay the ransom. It has caused huge losses and business discontinuity. They are yet to recover. Check this link

https://www.hindustantimes.com/india-news/indiabulls-hit-with-ransomware-attack/story-m2nJBlQTtkeFPbStz8QkKO.html

These enterprises have all resources to defend themselves, tools, experts, and mindset. In last month I read somewhere that there were 44,000 cyberattacks on MSMEs by Maze, Clop, or Revil type of modus operandi.

My concern is, do MSMEs have means and measures to defend themselves? At most, they have antivirus and firewall. When they launch new ransomware or modus operandi, antivirus and firewalls take few days (or weeks) to be able to detect them. Enterprises are seriously vulnerable during this time.

I am motivated to write this because most MSMEs I know do not have a plan B.

Having plan B is not difficult and expensive. You may search for vault and workspace technology. It can help MSMEs to rebound after the ransomware attack. Check these videos