As cyber threats evolve and become more advanced, the circumstances are growing more precarious. After encrypting data, attackers may threaten to release it to the public or use it to extort business partners in exchange for access to confidential information about company leaders.
It is understandable to feel fearful and helpless in the face of such attacks. However, there are steps that can be taken to fight against these malicious perpetrators. It’s crucial to bear in mind that a ransomware attack usually involves someone within the organization clicking on a malicious link. Therefore, it’s vital to educate all staff to lower the chances of this happening. In this article, we’ll be examining the latest tactics being employed by ransomware hackers and the precautions that businesses can take to safeguard their data.
Businesses’ Vulnerability in General
Norton reports that four distinct business categories are at an elevated risk of ransomware attacks. As a result, it’s crucial for these organizations to be mindful of the potential danger and take appropriate measures to secure their systems.
- Businesses with a less robust track record for security.
- Establishments with quick transaction-processing abilities and histories
- Corporations that hold a large amount of data
- Businesses involved in commerce in the Western Hemisphere
An additional potential target is highlighted in this news article, which zeroes in on critical infrastructure:
New Techniques
As previously noted, ransomware malfeasants are now able to inflict more harm than merely locking files and extorting payment. In accordance with TechRepublic, some of their recent tactics entail:
A choice was made to disseminate the information publicly. If the ransom goes unpaid, access to your data may be restricted, and unauthorized parties may choose to publish or sell it. Even if you choose not to pay the ransom, you may still suffer losses if your customer-facing, confidential, or private data is accessed by unauthorized individuals. To prevent such losses, it’s recommended that you rely on data backups.
Directly contacting employees. Malicious individuals may contact team members and threaten to leak their personal information unless a ransom is paid. These attackers usually go after C-suite executives, who have the authority to decide whether or not to pay the ransom.
Contacting vendors and customers. If your company’s sensitive data is compromised and made public, malicious actors may reach out to those impacted to warn them that their data may also be at risk. This could result in pressure from affected parties to pay the ransom in a bid to safeguard their interests.
Enlisting influential insiders. Ransomware hackers may target your company’s employees to acquire entry and execute an attack. Allegedly, those involved in the scheme may be promised a share of the ransom money in return.
Obstructing efforts to restore from a backup. There is a chance that the perpetrators may modify network passwords or delete backups to prevent you from being able to reach your data.
Should You Pay the Ransom or Not?
When a business is hit by ransomware, it’s natural to feel compelled to make a prompt decision about whether or not to pay the ransom. However, there is no clear-cut solution. Gartner has released several key figures to guide those evaluating whether the ransom is a justifiable expense to retrieve their data.
- Typically, only about two-thirds of data is recovered, and a mere eight percent of businesses are able to recover all of it.
- Once files are encrypted, they are usually beyond salvage.
- At times, data recovery can stretch out over several weeks, particularly when a substantial amount of information is encrypted.
- It’s impossible to ensure that the hackers will not replicate the pilfered information. If the data is valuable, they may opt to circulate or barter it at a later time.
It’s natural to be hesitant about making a payment to criminals to recover your data. Nonetheless, it’s essential to contemplate the possible ramifications if you are unable to restore access to your information.
- How much money will you lose, both financially and in terms of your customers’ confidence?
- What is the maximum amount you can afford to lose before your business goes under?
- Is there sufficient workforce available to address this significant issue while maintaining normal business operations?
- How much of your competitiveness in the market could you still retain if, for instance, confidential information or other data were to be exposed?
Strategies for Fighting Back
Although the situation may seem daunting, you and your team can still exert some control over the matter, even if ransomware attackers seem to have the upper hand. If you’re worried about being targeted by ransomware, take note of these countermeasures.
Train your employees.
To shield against ransomware infiltrating your organization’s network, all staff members should be knowledgeable about and adhere to several fundamental principles. Ensure that your team is familiar with the indicators of compromise, and provide them with avenues to refine their capabilities in detecting them.Cultivate a “see-something, say-something” approach.
Let your employees know that they can contact someone at any time if they notice anything unusual.Implement a “zero trust” policy.
There’s always a chance for harmful internal conduct, but it’s critical to understand that any individual could become an attacker. To mitigate this risk, users of a Zero Trust system must always authenticate their credentials and routinely report their actions to the system.Identify the warning signs.
Stay vigilant for signs indicating that your network is on the verge of being attacked.Ensure you have a file backup.
Ransomware attackers may prevent access to your backups, so it’s critical to maintain two offline backup alternatives.Create a contingency plan.
No business is entirely invulnerable to ransomware attacks, so it’s wise to plan for the worst-case scenario.
This essay suggests various possible measures that can aid in shielding your business and team from ransomware attacks. It is recommended that you examine these options and choose those that are most appropriate for your requirements. By taking these steps now, you may avert any serious and long-lasting ramifications that could result from a ransomware attack.
