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What Is Ransomware?
Nearly 40% of victims who pay the ransom never get their data returned, and 73% of those who pay are eventually attacked again.
Ransomware is malware where significant information of a person or organization is encrypted, making it impossible for them to access files, databases, or apps. A ransom is then required to get access. Ransomware is frequently intended to propagate over a network and target database and file servers, paralyzing an entire business in a matter of minutes. Although there are many different forms of Ransomware, they all fall into two categories: crypto-ransomware and locker ransomware.
Regardless of the strain, Ransomware is a criminal money-making scam activated by fooling people into clicking on false links utilizing social engineering techniques or exploiting system vulnerabilities. Some strains even go so far as to designate the files for permanent destruction. The attackers then demand ransom payments (typically in untraceable cryptocurrencies such as Bitcoin) in exchange for the private key needed to decode and access the data.
The pandemic created an ideal storm for Ransomware to target companies as they scrambled to build dispersed operations. The challenge emphasized the need to maintain adequate corporate data backups, including cloud backups and robust restoration methods. Ransomware may penetrate networks through various methods, the most frequent of which is social engineering, in which hackers mislead people into clicking links or opening files. When the assault is launched, the virus encrypts the data on that machine, rendering it unavailable.
Who are Ransomware Attackers?
Ransomware attacks can be created and distributed by anyone, anytime, anywhere. Attacks can be highly profitable, and would-be cybercriminals need an internet connection to start. Although these cyber attacks are illegal, the odds of getting caught are low as payment is typically bitcoin.
Some Ransomware may not even need coding expertise. This is called Ransomware as a Service (RaaS) strains, where hackers design these to collect a percentage of the ransom as a service charge and make it easy for users to distribute the harmful software. So here’s the question:
Who Are Their Targets?
Because of the nature of this file-encrypting virus, hackers may select their targets. Because of this targeting capability, hackers may go after individuals who can and may be more inclined to pay bigger ransoms. Here are four target groups and how they could be easily affected by ransomware.
- Groups that are believed to have less security.
- Companies that can and will pay promptly.
- Firms that store sensitive information.
- Businesses operating in Western markets.
Protect your Business & Identify Breaches before they cause damage.
Cyber attackers do not discriminate, they cast a wide net and will go after anyone. Your organisation is not immune to a ransomware threat, regardless of its size or industry, which makes it critical that your organisation deploy data protection and cybersecurity tools.
A Tip for Managed Service Providers
If you provide IT services to small and medium-sized businesses, you should embrace solutions, engage with reputable providers, and be proactive in the battle against Ransomware. Our team at Save On Dev offers solutions to assist you in providing a solid solution for your clients and prevent ransomware attacks.
A Tip for IT Users
You have more essential things to accomplish as a business owner or end-user than maintain your own IT systems. The world of IT, as well as the risks that organizations confront, are continuously evolving. This is where managed service providers such as us come in. Save On Dev works with businesses and organizations to verify that their systems are operational and have a security policy in place.
Ransomware attacks have evolved, and so OUR TEAM have.
All businesses are vulnerable to security risks resulting in data loss, financial loss, and reputational damage. Save-On-Dev is familiar with these issues and can assist you in assessing your risks and potential mitigating damages.
Ransomware Response Checklist
CAN YOU ANSWER ‘YES’ TO ALL THESE QUESTIONS?
- Do you have endpoint security in place throughout your network?
- Do you secure your computer network using multi-factor authentication? If yes, what do you use?
- In the previous 6 months, have you tested the successful restoration and recovery of important servers/configurations and data from backups?
- Are your backups encrypted and stored separately from your network (‘offline’) or on the cloud?
- Do you examine the data integrity of these backups on a regular basis?
- Do you apply security patches to your network / for operating systems at least once a month?
- Is your Ransomware incident response plan viable in the future?
- Have you received emails scanned for malicious content?
- Are all your ‘work from home employees in compliance?
- Do you have a trained information security specialist on staff, as well as trusted third-party information security and risk advisor?
IF YOU ANSWERS ‘NO’ OR ‘I DON’T KNOW, THEN YOU MAY BE AT RISK Contact Us
Deploy World-Class Protection
Did you know that ransomware affected around 21% of companies last year? So don’t be a victim too!
Ransomware assaults of today frequently combine numerous sophisticated tactics with real-time hacking. To reduce your chances of being a victim, you need sophisticated protection from Save On Dev that monitors and secures the whole assault chain.
Backup is your final line of defense against advanced ransomware assaults. But, how reliable is your backup solution?Learn more
Would you like to get in touch with a source code security expert? Contact us for a free consultation or to learn more about our custom source code review services today.
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