If you do pay the ransom and gain access to your files again, do not forget to “clean up” your computer to clear your systems of the malware. If you do not, the hackers may hit you again as you will be an easy target. If you have retained a cybersecurity company with a “zero-dollar retainer,” they may be able to combat the ransomware virus and attempt to decrypt your files.

Unfortunately, no one is completely immune from ransomware. Hospitals, banks and private citizens have all been hit. Take some precautions now and you can protect your firm—and your clients—from this dangerous cybercrime in the future.

Jeffrey Ingalsbe is chief information officer/chief information security officer for Flexible Plan Investments Ltd., a registered investment advisor with over $1.8 billion AUM (10/31/21).

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