What to Do When Disaster Strikes: Recovering From Malicious Attacks

As accountants, we prioritize protecting our businesses and clients. We invest in security tools, educate our teams on identifying scams, and remain vigilant to emerging threats.

But here’s the uncomfortable truth: No system is ever completely safe from attack. Why?

Because cybersecurity is a constant balancing act. If you locked everything down so tightly that no one could break in, it would also make it nearly impossible for you to use your systems. At the end of the day, your firm needs to function. You and your team need to send emails, access financial records, and collaborate with clients without jumping through endless security hoops.

Cyber criminals are smart, and their tactics evolve. No matter how careful you are, they will always look for new ways to break in. Sometimes, despite your best efforts, they’ll succeed. That’s why cybersecurity isn’t just about keeping attackers out—it’s about having a plan for what happens if they get in. If your firm faces an attack, the speed and effectiveness of your response can mean the difference between a minor inconvenience and a full-blown disaster.

Why Every Firm Needs a Recovery Plan

Imagine this: You get to the office, turn on your computer, and you see this message:

Your data has been encrypted. Pay $50,000 in Bitcoin to restore access.

Everything is locked. You can’t process transactions, respond to clients, or access financial data. Your team is stuck, unsure what to do. Panic sets in.

You’ll start asking yourself questions:

• What’s happened here?
• Do we have backups?
• Who do we need to notify?
• How can we limit the damage?
• How long will it take to recover?

Many business owners don’t have answers to these questions. So, when disaster strikes, they waste precious time scrambling to figure it out. That’s why having a recovery plan in place is so important. It gives you clear steps to follow, so you can act quickly and minimize damage.

Think of cybersecurity like fire prevention. Your office has fire extinguishers and smoke alarms, right? You also likely have an evacuation plan, so everyone knows what to do in an emergency. A cybersecurity recovery plan works the same way: It’s your emergency playbook for getting back on your feet as quickly as possible.

What Makes a Good Recovery Plan?

A strong recovery plan covers everything you need to respond effectively to cyber attacks. It helps you understand which systems are critical, where your firm’s weak spots are, and what steps to take if an attack happens.

Here’s what your recovery plan should include:

• Risk assessment: Understanding where your firm is most vulnerable to prepare for the most likely threats.
• Business impact analysis: Identifying your most critical systems and data, so you know what to prioritize during recovery.
• Incident response procedures: A clear, step-by-step process for detecting, containing, and resolving cyber threats.
• Communication strategy: Knowing who to notify (employees, clients, legal teams) and how to handle public messaging.
• Recovery strategy: The process of restoring systems and data with minimal disruption.
• Backup operations: Ensuring secure, tested backups for fast data restoration, including immutable backups which can’t be altered once saved.
• Roles and responsibilities: Defining who should do what during an attack, ensuring there’s no confusion in a crisis.
• Testing & drills: Running simulations to find weaknesses before a real attack happens.
• Compliance considerations: Ensuring your response aligns with industry regulations.

The Cost of Not Having a Plan

Some firms assume they’ll just figure it out if the time comes… but recovery without a plan is messy, slow, and expensive.

A cyber attack can cost your firm thousands—not just in lost revenue, but also in legal fees, fines, and reputation damage.

If your systems are down for days, clients may go elsewhere and never return. If their sensitive data is exposed, they may lose trust in your services entirely. And if you mishandle sensitive information, you could face legal consequences.

The good news is that firms that prepare for attacks recover much faster, often with minimal damage.

Understanding Your Risks

The first step in cybersecurity isn’t buying expensive software—it’s understanding where your firm is vulnerable.

Cyber criminals don’t just target large firms. In fact, SMBs are often easier targets due to weaker security measures.

Ask yourself: What would a cyber criminal want from my firm?

For many, the answer is data—client information, financial records, or intellectual property. Others may want to disrupt your operations and demand a ransom.

Even if you don’t think your firm offers anything of value, attackers might target your systems as a stepping stone to bigger targets.

Once you understand what’s at risk, you can focus on protecting it.

How Cyber Attacks Happen

Most cyber attacks start with human error.

One of the biggest threats is phishing—fraudulent emails that trick employees into clicking dangerous links or entering their passwords on fake websites. These emails may look like invoices, messages from colleagues, or alerts from service providers, making them easy to fall for.

Then there’s ransomware, which locks up your files and demands payment to unlock them. Without secure backups, this kind of attack can be devastating.

Insider threats are also a risk. A weak password, a lost laptop, or an ex-employee who still has access to your systems can all jeopardize your firm.

And it’s not just data breaches to worry about. Outdated software, poorly secured Wi-Fi networks, and unpatched systems can all be exploited by cyber criminals.

What To Do If an Attack Happens

The longer it takes to respond to an attack, the worse the damage—financially, operationally, and to your reputation.

A clear incident response plan outlines what to do, who’s responsible, and how to recover quickly. Without one, confusion takes over, time is wasted, and mistakes can make things worse.

Here are the five key phases of incident response:

1. Preparation: A solid plan ensures you have the right tools, knowledge, and procedures in place. Assign roles and train employees to recognize threats.
2. Detection & analysis: Detecting attacks quickly allows you to stop them sooner. Look for unusual activity, fake emails, slow performance, or unauthorized logins.
3. Containment: Once detected, contain the attack by disconnecting compromised devices, resetting passwords, or isolating affected systems.
4. Eradication & recovery: Remove the threat, restore systems, and address vulnerabilities such as outdated software or weak passwords.
5. Learning from the attack: Review what happened, what worked, and what didn’t. Use this information to strengthen your security measures.

Getting Back to Business

Recovering from a cyber attack isn’t just about damage control; it’s about getting back to business as quickly and securely as possible. The difference between a minor setback and a disaster often comes down to how well you prepared.

If a flood destroyed your office, you’d have insurance and a backup plan. Planning for cyber attacks should be no different.

Restoring Critical Systems and Data
Identify what’s most critical—losing emails for a few hours is frustrating, but losing client records or payment processing could be catastrophic. Prioritize recovery based on business impact.

Minimizing business disruption
Recovery can take time. Having contingency plans in place for communication and operations can help reduce the impact on your clients and reputation.

Preventing future attacks
Once the crisis is over, assess weaknesses and improve your defenses. Regular audits, stronger passwords, and employee training can reduce future risks.

Start Protecting Your Firm Today

If you don’t have a cybersecurity recovery plan yet, now is the time to begin. Start by identifying critical systems and reviewing your backup strategy. Implement multi-factor authentication and train employees on security best practices.

A solid recovery plan will prepare you for the worst and ensure your firm can bounce back quickly with minimal damage. 

This article was submitted by Kellen Cowan of Newave Solutions.