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AGCO Cyber Attack

AGCO Ransomware Attack: What Is It and How Do You Protect Yourself From It?

On May 5, 2022, the agricultural manufacturing giant, AGCO, was hit by a ransomware attack that halted its operations. This cyber attack resulted in data exfiltration, financial losses, and operational disruption. Luckily, due to AGCO working outside of retail, no consumers lost their data in the attack.

The AGCO ransomware attack is just one of the countless cyber attacks that target businesses in the USA. San Antonio and Austin, TX, are thriving business hubs, and if you’re based here, you need to take steps to protect your data.

If you manage your business operations in-house, a lack of resources could leave you vulnerable to a cyber attack.

How could you defend against the AGCO cyber attack? What exactly is AGCO ransomware? How can you keep your data safe?

This AGCO guide will help you. Read on and let’s get started!

How Does an AGCO Ransomware Attack Work?

We know what happened in the AGCO ransomware attack, or at least, we know the end result: damage to a major corporation. Entire cities are targets: The city of Oakland entered a state of emergency in February 2023 after a ransomware attack plagued its IT systems.

Ransomware is one of the most damaging forms of malware. Let’s see how it sinks its teeth into your data.

Ransomware works by getting into your system files, encrypting sensitive data, and then threatening to delete it unless you pay the hacker a financial ransom. For big businesses, the ransom to get the data back can be 7 figures or more, and there’s no guarantee the hacker will keep their word.

Most businesses use encryption to protect their data, and consumer computers often come with whole-disk encryption software pre-installed. When the decryption key is personal to you, no one else can read your data. Ransomware poses such a huge threat because the hacker holds this key.

AES-256 encryption uses a 256-bit key to encrypt your data. It is a form of symmetric encryption which uses the same key to encrypt and decrypt the data. In a brute force attack, with no knowledge of the victim, AES-256 is almost impossible to crack, taking multiple years even for a supercomputer.

So, you see the dilemma you face if AGCO ransomware gets hold of your data. You need to protect yourself, and one of the best ways is with managed IT services with specialized training in cyber security.

The benefits of investing in ransomware protection far outweigh the costs. Damage to your business reputation, loss of consumer data, and financial costs can be hard to recover from.

How to Protect Yourself From an AGCO Ransomware Attack

Managed It services can protect you from ransomware in a number of ways. These are some of the basic strategies you can implement, but there are new techniques arising every day to match the evolving cyber threats. Without assistance, it can be time-consuming to keep track of them all.

Data Backup, Recovery, and Cloud Services

Cloud services, like Azure Cloud, make it harder for attackers to reach your data. They also protect your data from physical theft of equipment, like hard drives, while making it easier for your team to collaborate. Cloud backup lets you recover your data, even if the hacker decides to delete it.

Managed service providers keep track of your backups for you. When you’re busy with your business, it can be easy to forget to make backups at regular intervals. Miss one, and you could lose something essential.

Even though cloud services give you a remote backup, offline backups still have their place too! They can be stolen, but without them, you rely on your cloud service entirely – plus you can disconnect them if you detect a breach. Use a mix of physical and cloud backups to ensure you can access your data even if the worst happens.

Team Cybersecurity Training

Training your team in cybersecurity is one of the best ways to protect yourself. Human error accounts for the majority of data breaches – all you need to do is download the wrong email attachment – so team training is vital. Plan for an AGCO cyber attack the same way you plan for any business threat.

That said, training an in-house team dedicated to cybersecurity often costs you more than teaming up with a managed services provider. They have experts in cybersecurity ready to help you, and they can help train your other team members too. This combination frees up your resources and saves on your total expenses while offering you optional protection.

Remote Management and Monitoring (RMM)

RMM enables your managed services provider to help you from anywhere. They can schedule manual updates and backups, mitigating security threats and keeping you updated. Your cybersecurity experts can patch holes in your security and perform regular analysis to find any additional gaps.

Endpoint Detection and Response (EDR) Services

AGCO ransomware fails to hurt you if it fails to reach your files. Having up-to-date firewall and antivirus systems helps to keep you safe, but you need to keep regular updates scheduled to stay ahead of ransomware as it evolves. Your managed services provider will take of this for you.

EDR can be complex to implement in complicated business infrastructures. Without special training, you may leave gaps in your protection, and as we all know, antivirus software can affect your computer performance – this is multiplied in an interconnected network, and you need things to run fast to stay efficient.

Upgrade Security for Your Business

An AGCO ransomware attack can devastate businesses of all sizes, and as we’ve seen, even city departments can fall victim to ransomware. The right managed services provider can give you peace of mind.

Terminal B can keep your sensitive data out of the wrong hands. We offer managed services packages tailored to your needs. We have helped businesses in San Antonio and Austin, TX, keep their data safe for over 15 years.

We offer cybersecurity management, Azure Cloud, Azure Virtual Desktop, support, and consultancy services. We specialize in the construction, healthcare, hi-tech commerce, and pharmaceutical sectors.

Ready to tighten your cybersecurity? Book your strategy session today!


Industries That Need a Managed Service Provider (MSP)

The managed services provider (MSP) industry looks set to surpass $399.1 billion by 2028, according to the latest industry research.

Managed service providers are vital for many business sectors, with construction, healthcare, and pharmaceuticals leading the way. Businesses in Austin and San Antonio, Texas, use managed services to boost their productivity and decrease risk with cloud technology.

You might wonder what types of managed services you can get. Which ones would benefit your business the most?

The answer depends on the type of business you have and your functional needs. We can help you make the right decision for your business.

Read on for your MSP guide.

What Is a Managed Service Provider?

When your business resources are stretched thin, and you’re feeling the strain, your MSP steps in to take the pressure off. MSPs manage one or more areas of your business for you, reducing downtime and making your processes more efficient.

Managed Services in Construction, Healthcare, and Pharmaceuticals

Construction management services can help speed up a project and maintain a steady pace of productivity. A healthcare managed services provider ensures patient data is safe and accessible when you need it most. These sectors deal with masses of documentation, and managing it in-house can be overwhelming; an MSP takes care of this for you.

Businesses dealing with high-tech plans, schematics, personal data, and medical records need an MSP too. Pharmaceutical businesses must stay compliant, manage data governance, and avoid leaks. Better management and tighter cybersecurity give you peace of mind and take the pressure off your in-house teams.

Track Your Expenses with Ease

Your expenses will be easier to manage with an MSP. Operation support costs can run up faster than anticipated without managed services.

Your MSP will handle infrastructure updates, hardware replacements, cloud migration, and maintenance, helping you plan expenses in advance and avoid unexpected spikes.

Help When You Need It Most

You will have a team of experts on hand 24/7/365 to handle any issues. You can rely on them to keep you in operation, and depending on the size of your business, handling this in-house would be expensive and complex.

Without an MSP, you might have to scramble to find a service at the last minute, this increases your costs and stresses!

Types of Managed Services

Now that you know the benefits of an MSP service, it’s time to decide which types of managed services would suit your business best. You can consult with an MSP to gain further insight, but here is a rundown of the essentials.

Cloud Services and Migration Management

Cloud services, like Azure Cloud, add an extra layer of cohesion to your business. Teams can communicate, collaborate, and share files easier, and with greater security. Cloud storage and migration are one of the most popular managed services for the high-tech, pharma, and construction sectors.

Cybersecurity Services

Cybersecurity is vital for any business dealing with large amounts of personal or sensitive data. Coupled with cloud services, it reduces risk and makes data breaches less likely. Hardware-only storage is vulnerable to physical theft; cloud services reduce this risk.

The 2022 healthcare ransomware attacks in the USA have driven home the necessity of managed cybersecurity services, so choose the right one. Make sure they are trained in the latest threat management techniques.

Construction businesses have sensitive schematics that need to be protected – if there is a data leak, this could compromise the security of the building. Construction management services secure your information for you, keeping your data and reputation intact.

Compliance Management

You will never have to worry about compliance or new regulations. Your MSP will track any changes and make sure you stay compliant, avoiding fines. This process can be complex in highly-regulated industries: health, construction, finance, and pharmaceuticals.

Remote Desktop Services

Managed remote desktop services help remote teams work together, ironing out the issues many remote companies face. This saves on your total expenditure, and even if your MSP charges a fee, it often works out cheaper than an in-house training solution.

Data and Information Management

A healthcare managed service provider makes it easier to organize and share patient information with healthcare workers while keeping it out of the wrong hands.

How to Choose a Managed Service Provider

If you’re looking for types of managed services in Austin or San Antonio, TX, make sure your MSP offers everything you need. An MSP is an investment, and although your total expenses will often be lower, choosing the right MSP helps you make the most of your investment

Here is a quick overview of what to look for:

  • Network performance updates – Any effective MSP will ensure your infrastructure is secure and efficient, optimizing your network and components.
  • Robust cybersecurity – Your MSP needs to be trained in the latest cyber threats and their solutions, ready to protect your systems from all kinds of attacks.
  • 24/7/365 support – When you need help, your MSP must be ready to act and keep your business running.
  • Precise data loss prevention – If things go wrong, you need to get back online ASAP, and data recovery systems help you do this, minimizing downtime and keeping your data safe.
  • Compliance reports – Look for certifications from data protection and security regulators in the USA, ensuring your MSP knows how to keep you compliant at all times.
  • Document management – As your business grows, so does your document pile, so make sure your MSP handles this for you and makes it easily accessible.

As technology develops, the types of managed services you can get will expand too. Look for a managed service provider who uses the latest tech and follows the latest trends.

Their level of customer service should be exemplary, so never hesitate to get in touch before you commit to an MSP. This lets you assess their response times and service skills – only work with an MSP you trust to help you out in a difficult situation.

Make Business Easier with Managed Services

We hope this guide helps you to choose the right types of managed services for your business. Managed service providers take the pressure off, and ensure things run smoothly, so you can develop your other business functions.

Terminal B can simplify your IT solutions and make everything easier. Based in Texas, we have serviced areas like Austin and San Antonio for over 15 years. We take pride in our reputation, and our clients come first, always.

We offer tailored support packages for all types of businesses, with specialisms in construction, medical, and pharmaceutical management.

Want to talk strategy? Book your strategy session today!

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