Ransomware-Let's Discuss It in Easy Way

Ransomware stands as one of the biggest cyber threats to every organization no matter its size or location. There are many other concerning cyber threats, but ransomware can alone bring up crisis-level damage. According to Verizon Data Breach Investigations Report, the frequency of ransomware alone got doubled just in 2021, eventually contributing to around 10% of all breaches in 2021. In short, ransomware is getting worse, more sophisticated, and advanced with every passing year. Therefore, this blog is meant to clear your concepts around what is ransomware, how it works, and then highlight the best ways to avoid ransomware attacks.

Ransomware Definition

Ransomware is a type of malware that takes control of the victim's computer in order to block the user's access to the system or encrypt the valuable data. Once done, the attackers then demand a ransom fee to give back access to the system or to decrypt the data. Usually, victims get a message that shows the amount of ransom fee to be paid and how to pay it (mostly via cryptocurrencies).

How Ransomware Works?

Ransomware attackers have many ways to get into a computer system and take over the control. However, phishing email stands as one of the most popular ways adopted by attackers. The attack starts by sending a legitimate-looking email to the victim that is meant to trick him/her to open a malicious website or download a malicious attachment. Once the victim downloads and opens the attachment, the malware takes the control of the computer and sometimes even involves social engineering tools to make the victim hand over administrative access. Besides the phishing email tactic, attackers also actively look for security loopholes in a system to easily penetrate without struggling to trick the victim first.

Once the malware is in the system, attackers have plenty of options to do. They can block access, mine cryptocurrencies, encrypt data, etc. In most cases, attackers encrypt the data and then threaten to either delete or make the data public if the ransom fee is not paid on time.

Attackers are mostly aware of the financial position of the victim, so they set the ransom fee accordingly. In fact, many attackers even offer some discounts for early payments in order to make the victim quickly pay the ransom without much thinking. Attackers also provide a complete guide on how to make the payment, and in most cases, the payments are made via cryptocurrencies. Once the payment is made, the decryption key is sent to the victim.

Although it is not recommended to pay the ransom fee because it motivates more similar attacks, most victims tend to pay the fee to either avoid reputational damage or when no effective option for ransomware removal, such as ransomware decryptor, backup recovery, etc. are available.

Best Ways to Avoid Ransomware Attacks

Ransomware attacks are becoming more advanced and sophisticated with every passing year. So, it cannot be inferred that the below steps will ensure that you are protected from ransomware attacks forever. Any unintentional mistake or security loophole is enough for attackers to breach your security protocols. Still, there are a few practices that can play a significant role in reducing the chances of a ransomware attack. Following are a few of them:

• Up-To-Date Operating System: Unpatched and outdated operating system is the favorite gateway for attackers. Therefore, always keep the OS up-to-date and patched.
• Antivirus Software: Install reputed antivirus software that is known for intelligently detecting malicious files and programs along with comprehensive and in-depth security scans.
• Data Backup: Data backup is also one of the most effective ways to protect against serious damages from ransomware attacks. When you have made data backups in the external hard drive, cloud, or any other medium, you can easily restore them even when your system is locked or data is encrypted. This way, you do not have to pay a ransom fee and can get control of the system back in minimal time.
• Administrative Control: Avoid giving administrative access to all the software that asks for it. Only the trusted ones should be given administrative privilege.

Conclusion

With the technological advancements and the availability of new tools, ransomware attacks are growing to a crisis-level potential. The 2021 Kaseya attack is an example of how an attack affected over 1,500 MSP customers. So, ransomware is here to stay, but what we can do is try to ensure robust cybersecurity measures to minimize the chances of such attacks.

Contact CARE IT for measures to protect your company from ransomware attacks !