What is Ransomware?
Ransomware is a form of malware (malicious software) that will lock and encrypt victim’s files and threaten them for ransom money in exchange for the decryption key to restore access to the victim.
Ransomwares do not remain the same but are constantly evolving. Ransomware attacks happen every year across the globe. From January to June 2024 there were 2,321 Ransomware attacks across the world, as per the Director of National Intelligence office, United States of America.
How does a Ransomware attack work?
Ransomware attacks can be successful only when the attacker gains access to the organization’s systems. This usually happens through phishing emails, through malicious advertising and exploit kits, through Remote Desk Protocol (RDP) etc.
Once the access is gained to the organization’s systems, ransomware that is installed begins encrypting the victim’s files. Cybercriminals encrypt a few files blocking the owner to retrieve their data. They create a decryption key and then erase the original unencrypted files along with backups.
Once the data encryption is completed the victim receives a ransom note as an alert demanding payment usually in the form of cryptocurrency since it is difficult to trace back to the attacker.
How to protect yourself from a Ransomware attack?
Recovering from ransomware is expensive. It is best to prevent ransomware from happening. These are some practices that will help to protect your devices against being infiltrated by ransomware.
- Maintain data backups: Backing up your data is the most effective way to recover from a ransomware attack. Your backup files should be stored offline on an external drive or on a secure cloud storage, this way the attackers cannot access it. Having automated and protected data backups and maintaining them is an important practice to prevent completely losing data.
- User authentication: Stolen RDP credentials is quite a popular way to install ransomware. Use of strong user authentication or 2FA (2 Factor authentication) makes it harder to guess/ steal passwords.
- Email security: Cybercriminals extensively use phishing emails to attack through ransomware. You can avoid this by not clicking on suspicious links, turning on spam filters and hovering over URLs before clicking them.
- Update systems and software regularly: Keeping your operating system, antivirus, web browser and other softwares is important since ransomwares are constantly evolving and able to bypass old security.
- Use of VPN: When connected to VPN, your connection gets secured by encrypting data and masking your IP address, which can protect from hackers accessing your IP address.
- Caution with ads and website pop-ups: Website pop-ups and ads can be used to install malware. Using ad-blockers helps, if you receive a suspicious pop-up, close the browser through Task Manager.
- Install Antivirus software and Firewalls: Use of antivirus and anti-malware software is a common method used to defend against ransomware. Antivirus only works when the attack is already in the system. Firewalls act as a first line of defense against incoming attacks. It protects from software and hardware based attacks.
- MDR and EDR security: Installing Endpoint Detection and Response (EDR) solution for growing businesses is important as it allows system admins to monitor all and manage security for all the remote devices across company networks. Some organizations require a 24×7 security service identifying and mitigating cyberthreats across on-premise networks, cloud environment, applications and endpoints. Such organizations should venture out for Managed Detection Response (MDR), but an in-house MDR is expensive. A Security Operations Centre (SOC) should be able to provide the value of a MDR.
- Security testing: Various kinds of security testing helps in making sure ransomwares can be prevented. Conducting Sandbox testing helps by testing the software against malicious code in an isolated environment. VAPT (Vulnerability and Penetration Testing) is done by simulating real world attacks and helps in understanding about your organization’s security standards and see how any weakness can be exploited.
- Educate your staff: Training employees about cyber attacks is important for all businesses. Employees should have basic understanding about cyber attacks, its impact and should follow best practices ensuring they don’t become the gateway for ransomware.
Conclusion
In order to prevent Ransomware attacks, businesses require a multi layer cybersecurity approach, conduct data backups regularly, have strong authentication methods and most importantly educate employees about various ways a Ransomware attack can happen.
The above mentioned points should help in preventing a ransomware attack. Having a cybersecurity consultation can help you understand the security needs of your organization.