Although ransomware has been around since the late 1980s, the threat has been growing exponentially over the past few years. This makes it a significant, pervasive threat that can only continue to wreak havoc on our infrastructure and industry. It’s dangerous. It can affect anyone. It strikes without notice, often when least expected and can wreak extreme havoc once it ingratiates itself onto an existing system. Numerous businesses each year are adversely impacted by ransomware attacks and it can bring down important parts of our daily lives such as infrastructure. This article will teach you about ransomware, how it works, and which companies are most affected so you can help keep your business safe from this growing threat. Read it below.
How Ransomware Works
Ransomware is a truly insidious type of malware. It’s dangerous. It can cause major problems. It compromises data and causes a severe headache for anyone affected. Ransomware targets a range from businesses, the healthcare industry, and the education sector to the infrastructure we use each day. It can happen in a number of ways, but phishing is the most common. Phishing attacks are one of the most common forms of online fraud that lead to ransomware attacks. They often happen through email and involve fraudsters trying to trick you into giving them your personal information by impersonating a bank or other trusted institution.
Types of Ransomware
The key to defeating an enemy like ransomware lies in understanding it. There are many types of ransomware. Crypto doesn’t block your computer’s functions but it does seek out to encrypt sensitive files. These might be pictures, word documents, or other important files that live on your hard drive. The attackers then Ransom them tea the user by dangling the decryption key over their heads. Locker ransomware blocks a user out of their device entirely. It might even freeze the keyboard input until the attacker unlocks the device. Dox ransomware seeks to extort victims by exposing personal information if they don’t pay. Scareware convinces users to download useless software that provides the payload. And the worst of all is a business model known as Ransomware as a Service, we’re developers use ransomware tools to carry out attacks on unwitting users.
Most Common Ransomware and Methods
Out of all the different types of ransomware, there is a common strain or type for each one. Cryptolocker and CryptoDefense are two of the most common. These two are crypto-type ransomware
Ransomware attackers use four different common methods to accomplish their attacks. These are:
- Symmetric encryption, where attackers have just one key for encryption and decryption
- Client-side asymmetric encryption, where attackers have a separate public encryption key and a private decryption key to carry out their attack
- Server side asymmetric encryption
- Hybrid encryption, which is a combination of different encryption methods
Hybrid attacks are on the rise, but each tactic can be just as devastating as any other, meaning you were cybersecurity teams should be on the lookout for whatever they can do to mitigate and prevent possible ransomware attacks.
Most Affected Industries and How to Fight Back
Protecting your company from ransomware comes down to being proactive. And although ransomware can affect any industry, there are certain ones targeted more frequently. Attackers love to Target infrastructure such as pipelines and hospitals. The education system is also a frequent Target of ransomware attacks. In addition to that, you’ll find many businesses in the financial and technology sectors have dealt with these attacks regularly throughout the past few years. So, how can you protect your business from this terrible threat? There are a few methods that work well. First off, create backups and store at least one copy off-site. You should also limit access to important files, use privileged access systems, and disallow any kind of outside hard drive/thumb drives from being used on your systems. Use powerful software to remove ransomware from your devices and backups (both physical and to the cloud) to recover in the event you do become affected by an attack at some point in the future.
Damage Caused By Ransomware
The battle against ransomware is an ongoing and complex one. Out of a survey of over 500 IT professionals, 52% had not experienced a ransomware attack, 34% have, and 14% weren’t sure if they’d been affected by one. 80% of them believed the threat will continue to grow and that attacks will impact operations, IT infrastructure and business reputation. The disruption of a ransomware attack can vary from a few days to a few weeks. Most organizations don’t pay the ransom simply because thieves and hackers are unreliable. Often they will not release the decryption code anyway, so paying the ransom is in bank. Damage caused by ransomware includes downtime, financial impact, and consumer impact. When pipelines are disrupted, hospital care gets impacted, or big businesses we use every day are interrupted, it affects everybody adversely. That just brings home the point that ransomware is a serious threat that must be addressed in any way necessary.
Be the first to comment