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How To Protect Your Business From Ransomware Attacks

Written by Mike Solinap
Published on August 4, 2023

Cybercriminals know how valuable sensitive data is, and they know they can get a premium for it. That’s why Chief Information Security Officers (CISOs) are under pressure to protect their organizations while containing costs and managing complex security environments. Now more than ever, businesses face a higher risk of cybersecurity challenges. And, the rise of ransomware attacks poses a significant threat, causing financial and reputational damage. So, if you’re wondering how to protect against ransomware attacks, this blog is for you. We’re going to showcase how Microsoft offers a range of powerful solutions, including Purview, SIEM, and XDR. Each of these is designed to address these challenges effectively and safeguard businesses’ data.

2023 Ransomware Attacks Update

Ransomware attacks continue to increase in frequency and sophistication. According to Microsoft:

  • 579 password attacks are carried out every second.
  • The average cost of recovering from a ransomware attack in 2021 was $1.85 million.

The consequences of such attacks extend beyond financial losses, with additional costs incurred when zero trust architecture is not deployed. If you aren’t preparing for the worst, you should absolutely expect to be exploited.

Addressing Cost Containment and Complexity For CISOs

CISOs face the challenge of containing costs while managing complex security environments. And, according to Microsoft:

82% of security decision-makers have felt pressure to lower costs within the past six months. 

That’s a scary challenge given the rise of ransomware attacks, isn’t it? 

But, Microsoft Security recognizes this challenge and offers solutions to improve security, simplify vendor management, reduce complexity, and optimize cost efficiency. Additionally, By consolidating security solutions and utilizing a unified platform like Microsoft Security, you can streamline operations and allocate resources effectively.

The Benefits of Microsoft Security Solutions

Time and time again, Microsoft Security solutions have demonstrated remarkable time and cost savings. They’ve enabled organizations to protect themselves against ransomware attacks effectively – it’s one of the reasons they’re so successful and trusted. For example:

  • Organizations using Microsoft Sentinel, Microsoft 365 Defender, and Microsoft Defender for Cloud have experienced a 60% reduction in the risk of material breach.
  • Additionally, they’ve seen a 188% decrease in time spent responding to threats. 
  • Automation and process improvements in Microsoft 365 Defender have resulted in $10.5 million in additional end-user productivity.
  • Furthermore, adopting zero trust architecture has saved organizations an additional $1.76 million in recovery costs.

Essentially, integrating Microsoft Security tools like XDR, Purview and SIEM is a road to ridding your business of ransomware attacks.

The Microsoft Security Tools That Protect Against Ransomware And Cyber Attacks

How Purview, XDR and SIEM Are Interconnected

Purview, SIEM (Security Information and Event Management), XDR (Extended Detection and Response), and Microsoft Security are tightly interconnected components that collectively enhance your cybersecurity defenses.

Microsoft Purview: Comprehensive Data Governance and Protection

Firstly, Purview serves as a data governance and management platform. It offers visibility and understanding of an organization’s data estate. Furthermore, Purview enables cataloging and classification of data, ensuring the identification and protection of sensitive information. Lastly, Purview integrates seamlessly with other Microsoft Security solutions, bolstering threat detection and response capabilities.

Protect your business from ransomware attacks Microsoft Security
Protect your business from ransomware attacks Microsoft Security

SIEM and XDR: Advanced Threat Detection and Response

Secondly, SIEM solutions, like Microsoft Sentinel, aggregate and analyze security event data from multiple sources. They provide real-time monitoring, incident response, and compliance management. By centralizing security events and alerts, SIEM solutions empower security teams to prioritize and investigate incidents efficiently.

Thirdly, XDR solutions combine the strengths of SIEM with advanced analytics, machine learning, and automation. They detect and respond to threats across diverse attack vectors and endpoints, including cloud environments. XDR leverages comprehensive data analysis to uncover sophisticated threats and streamline incident response processes.

Integrating SIEM, XDR and Purview

Microsoft Security encompasses Purview, SIEM, XDR, and other security tools, all working harmoniously. It harnesses threat intelligence, behavioral analytics, and machine learning to detect, investigate, and respond to security incidents effectively. It’s the ultimate rubber stamp against ransomware attacks.

The integration of Purview, SIEM, XDR, and Microsoft Security ensures visibility, detection, and response across all assets. It empowers organizations to defend against emerging threats, manage incidents efficiently, and protect valuable assets.

Achieving Greater Efficiency with AI and Automation:

Artificial intelligence (AI) and automation have found their place in combating ransomware threats. Microsoft Security solutions provide advanced threat detection and response capabilities, reducing response times and improving productivity. By automating incident response, organizations can reduce mean time to respond (MTTR) and enhance overall cybersecurity posture. Microsoft Security’s use of AI and automation empowers CISOs to achieve more with limited resources.

Conclusion

Businesses and CISOs face formidable cybersecurity challenges. Particularly in the face of rising ransomware threats. But, Microsoft’s suite of security solutions, including Purview, SIEM, and XDR, provide protection and mitigate the risks associated with ransomware attacks. So, by leveraging Purview’s data governance capabilities, you can better understand and protect your data effectively. The SIEM and XDR solutions enable advanced threat detection and response, helping you proactively protect versus being reactive to ransomware attacks. 

We’re proud to partner with Microsoft and support businesses globally to improve their security posture. We do this through the strength of Microsoft Security products and our expert team of cybersecurity specialists.

Ready to protect your business and data against ransomware and cyber-attacks? 

Contact us here and we’ll guide you every step of the way.

 

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