Ransomware Surge

• September 8, 2023
• Carey M. Heyman, CPA

In an era defined by digital connectivity, the increase in ransomware attacks has cast a glaring spotlight on the relentless and ever-evolving nature of cyber threats. Ransomware attacks have permeated critical infrastructure and businesses of all sizes. Companies can face not only data loss, but potential exposure of sensitive information, as well as reputational damage.

Just last month, Multiple Listing Service (MLS) service provider Rapattoni fell victim to a ransomware attack, which impacted more than 8,000 users and significantly hindered brokerages in multiple counties across Northern California.

Below are some best practices to mitigate the occurrence and impact of ransomware attacks:

• Agile Patch Management. Timely application of security patches and updates is paramount, as many attacks exploit known vulnerabilities that could be managed through proactive measures.
• Safeguarding Data Integrity. Establishing comprehensive data backup and recovery strategies with routine offline backups is extremely critical.
• Human Element Fortification. Educating personnel on cybersecurity best practices and the different types of phishing attempts will prepare your team members to be the first, and possibly one of the best, lines of defense against potential threats.
• Incident Response Preparedness. A well-structured incident response plan that details containment protocols, recovery procedures, and post-incident analysis is essential.

Thanks to colleagues Javier Young and Cole Larcara for their help with the blog post.

Tags: attack, cyber, Ransomware, Real Estate, Industry best practices, Industry trends/analysis | Comments Off on Ransomware Surge