The ransomware threat has become more serious in recent years as cybercriminals take approaches to bypassing corporate security.
First, the advent of double blackmail attacks (stealing and encrypting data by criminals) meant that businesses could no longer rely largely on backups for recovery. And now, hackers are adopting the triple blackmail technique, adding DDoS attacks to their weapons.
The rise of the cyber insurance market not only provides a way for businesses to mitigate the financial risk of ransomware, but also encourages further attacks by increasing the potential for payment.
To find out about the combination of factors that make ransomware so effective, and what measures companies can take to reduce the risk. TechRadar Pro We spoke to Aarey Rentum, COO of security company CybExer Technologies.
What makes ransomware such a powerful threat?
Unfortunately, ransomware is an effective way for malicious attackers to fund criminal activities. Successful attacks generate millions of dollars, and hackers create a vicious cycle of criminal activity. This allows you to spend more time and money developing your approach with higher payoffs.
Paying the ransom encourages new cybercrimes and provides an incentive to launch more and more attacks. It keeps the wheels spinning, and the danger is growing as almost every business with some digital capability is operating and vulnerable.
Why have you seen a flurry of attacks in the past year or so?
The proliferation of remote workers has led to an inevitable but unreliable reliance on online systems for COVID-19. Similarly, there were more impactful attacks that affected industry, critical infrastructure, public health system capabilities and end users.
Cybercrime is on the rise even in the most vulnerable areas such as public health systems and hospitals, fueling increased media interest and public awareness. The relative success of cybercriminals over the past five years has allowed malicious attackers to exploit vulnerable environments and find new ways to work harder.
However, it is also important to understand that security has also been improved to counter the intensity of new threats.
How can a company balance the need to protect against ransomware and the need to maximize employee productivity?
Creating a backup and emergency preparedness system is central to maximizing employee productivity while ensuring that your enterprise is protected from ransomware. In addition, enterprise IT systems need to be differentiated and prioritized. The core system needs to be protected more tightly. A company’s cyber security strategy needs to determine where the best gems and secondary systems are, and determine cyber spending accordingly.
How has your ransomware strategy evolved in recent years?
Cybercriminals and government-backed teams have developed strategies and methods to learn how to claim ransom from victims. Ransomware has evolved dramatically – from regular ransomware to Ransomware 2.0, and is now called “Triple Extortion”. Three blackmails happen once the data is tampered with and encrypted. Hackers manipulate corporate data and disrupt business.
The impact of the pandemic cannot be forgotten, as companies have been forced to digitize at a record pace. Still, employees and customers are required to maintain the same level of access and quality to the business, which increases the potential for attacks. In addition, companies want to maintain service and secure cash flow, so they are willing to pay the ransom if they can continue their “normal business”.
What do you think about the debate over cyber insurance?
Obviously, there is a market for such products. Insurers impose IT security audits on potential cyber customers as a prerequisite to increase system resilience. So, that’s a good thing. But at the same time, companies still need to keep their people and systems up-to-date. Insurance is not an excuse for complacency when it comes to preparing for cyber threats.
How does switching to hybrid work affect ransomware protection?
Hybrid work is definitely creating new opportunities for cybercriminals. People often operate with unsecured and easy to monitor connections, leading to a common situation where cyber hygiene is still vulnerable. Enterprises are encouraged to “vaccinate” their employees against cyber threats by improving their knowledge of cyber hygiene. There are good free tools, but it’s also a good idea to contact an expert in cyber hygiene training.
What new and innovative technologies can act as a shield against ransomware?
It is about providing up-to-date and training to cyber security professionals and IT teams.
CyberRange is a great option to give your employees practical experience in dealing with cyber attacks. First deployed in the military sector, this has changed dramatically and the demand for this technology has grown exponentially. area of business. This technology allows teams to simulate attacks and react in real time. This is something we have never had the opportunity to do. This gives IT teams more perspective by allowing them to see the system from the outside in the same way as cybercriminals.
In my opinion, every Fortune 1000 company (at least) should use CyberRange to train their employees and be proactive in preparing for future threats.
A Virtuous Cycle That Makes Ransomware Such a Powerful Threat
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