One of the biggest cybersecurity concerns that enterprises presently face is ransomware.
What is Ransomware?
Malicious malware, known as ransomware, encrypts and locks down files or entire computers, preventing users from accessing them unless they pay a ransom. Usually, threat actors gain access to an enterprise’s network (for instance, by sending phishing emails that fool recipients into disclosing their credentials) and then install ransomware on numerous IT assets. In some cases, these attacks bring down the entire network or data center.
Ransomware types
There are two primary strains of ransomware:
- Crypto ransomware variants restrict access to specific files and crucial data on systems.
- Locker ransomware variants that hinder users from doing essential computer tasks.
As ransomware has proliferated, specialized gangs have appeared that focus on ransomware-as-a-service activities (RaaS). These RaaS gangs operate under a business model that offers ransomware tools to anyone who pays a subscription fee or a share of any ransom payments they receive. This lowers the entry barrier for ransomware assaults because any criminal can pay the price and gain access to the required data without creating a virus.
Businesses are increasingly being targeted by ransomware. Cybercriminals use ransomware to encrypt your computer or mobile device, lock it down, steal your data, and demand a few hundred to several thousand dollars in “ransom” payment. Enterprise networks, servers, and individual laptops and computers can all be infected by ransomware, which results in the loss of crucial data and information.
It’s critical to start acting now to prevent the enormous financial, operational, and legal repercussions from ransomware as more gangs develop, drawn by the profit possibilities in these attacks.
Read on to delve into eight actionable steps to protect your business against ransomware threats. These guidelines can aid companies in preventing ransomware attacks:
Educate your staff
Employees can actively assist in preventing malware from infecting the organization’s system and function as the first line of defense against online threats. These hazards can be significantly reduced with the help of an effective security program and employee training about warning signals, safe practices, and responses.
Control how privileged accounts are used
To reduce the risk of malware infecting your networks, restrict users’ access to install and run software applications on network devices.
Always create system backups
Data theft and system lockout are the two significant goals of ransomware attacks. The information becomes far more valuable because they now possess only copies of it, which motivates the victim to pay a sizable fee to get it back.
You are not liable to the attackers, though, if you keep backup copies of your data. Then, infected devices can be unplugged from the network, cleaned up, and rebuilt securely.
Once updates are released, apply them
Updates from vendors are frequently made available, fixing potentially exploitable flaws. You must address the problems as soon as possible since hackers are informed of the flaws as soon as a patch is released.
Your software and operating system should both be under scrutiny because flaws in either of these can be used to launch attacks. You should consider patch management and ensure that updates are done automatically when possible to help manage this process.
Segmenting the network
Network segmentation is a technique to separate your IT network into smaller sub-networks and control traffic flow between various zones. Network segmentation prevents lateral movement between zones by limiting the attack surface threat actors can use. Effective segmentation keeps criminal elements from entering other network zones even if they get beyond your perimeter, ultimately guarding against encryption on your endpoints.
Protected DNS
By both banning hazardous domains that can transmit malware and detecting ongoing attacks, dedicated DNS security aids in the prevention of ransomware. During the more advanced stages of a ransomware assault, hackers frequently utilize DNS tunneling to communicate between your environment and their control servers; good security monitors DNS activity and prevents this tunneling.
Watch out for email links
It is advised to avoid clicking links in emails or pop-up messages unless you are convinced they are real. Also, no matter who sent the email, use caution before opening attachments or downloading files. These files might be contaminated with viruses or other malware meant to compromise the security of your system.
Mouse over the link to see if it appears valid (without clicking). The correct URL will appear in a tiny window that appears. However, you could be directed to a potentially dangerous location if the URL differs from the one displayed in the link text.
Set up firewalls
Where a user connects to the Internet, firewalls and gateways offer a fundamental level of security. A firewall helps prevent attackers or outside dangers from accessing your system in the first place, even while antivirus software helps safeguard the system against unwanted programs.
Firewalls should be hardware-based for protecting your network and software-based for protecting individual users’ computers.
Watch out for MSPs (managed service providers)
Suppose cyber criminals are unable to access your systems directly. In that case, they may be able to do so through a link in your supply chain, with managed service providers (MSPs) particularly vulnerable. A successful attack might impact dozens, if not hundreds, of company networks. A more significant disruption means more pressure on the organization to pay, which is good news for attackers.
Also, an MSP’s security measures would be less robust than an organization’s. With numerous distinct databases and connections, there is a larger surface area for vulnerabilities. Therefore, checking an MSP’s security procedures is essential if you consider working with them. You should look for other alternatives if their practices don’t fit your requirements.
Be ready for social engineering assaults
Many ransomware outbreaks start with phishing emails that contain infected attachments. To fool receivers into opening an attachment, attackers pretend to be a legitimate sender, such as a reliable business or person.
It’s one of the simplest ways to gain access to a company’s systems since you can leverage an insider. As a result, you don’t need to waste time looking for technological flaws.
Regarding cybersecurity, phishing staff awareness programs should be at the top of your priority list. However, it would be best if you also considered educating staff about the threats associated with ransomware.
How should you respond to an attack?
In addition to taking precautions against ransomware attacks, it’s crucial to consider what will happen if things go south.
Disaster can happen with just one error, and when it does, every second matters. To recover, you must act quickly and follow a structured and systematic approach.
IT Governance developed its cyber security incident response solution to assist businesses with ransomware defense. The security advisors will guide you through every step, from identifying the breach’s origin to minimizing the damage to alerting the right parties and restoring normal operations.
Why is paying ransom never a good idea?
Many cybersecurity industry bodies and federal government agencies advise against paying ransom to threats. The reasons not to pay include the following:
- Getting access to encrypted files or systems is not guaranteed when you pay a ransom.
- As long as victims continue to pay ransomware demands, malicious actors will engage in further criminal activity.
- Ransom payments may be illegal in certain countries or jurisdictions as they fall under the definition of funding illegal activities.
