Connect with our experts
Share a few details about your business challenge, and we’ll get right back to you.
Connect with our experts
Share a few details about your business challenge, and we’ll get right back to you.
In the digital world, nobody's safe. Your organisation, sooner or later, will face a security incident.
It is a bold statement, but the reality shows it to be true. Companies are breached data is leaking, and business losses are growing - the pattern is repeatable.
Ransomware is a category of malware designed to block access to a device, service or resources through data encryption until the appropriate ransom amount is paid to the hacker.
Ransomware can get into the systems through (most often) the following techniques:
If the attack is successful, the ransomware will start encrypting data on the system and the victim will be forced to pay ransom to get the decryption key and recover their data.
A ransomware attack might be staged in advance and executed at a later date. Days or weeks may pass between the infiltration of the network and the actual attack.
In many cases during this period, the attacker will take your data and move it out of the network to request additional ransom for not releasing it or to profit from its sale.
When you are hit by ransomware, you might think about solving the issue by paying the ransom. It is not what we recommend.
Paying does not always work out well. Besides the moral aspect, remember that you are dealing with criminals, and they might not keep the deal or still sell your data afterwards.
Paying the ransom also fuels the cybercrime industry (it IS an industry) even further. With Ransomware-as-a-Service (RaaS) solutions on the rise, attacks are so easy to launch that they should be considered a source of income.
According to the State of Ransomware 2023 report by Sophos, companies had to spend on average USD 1.82 million on recovery, including downtime, lost productivity, device and network cost. Another statistic from IBM says that the average loss resulting from a data breach amounted to USD 4.45 million in 2023.
When the day comes and your business faces a ransomware attack, here are 7 points to follow:
Now is an excellent time to check if you have procedures in place to follow these steps. It will be a great help when there is a need to react. Time is of the essence in moments like these.
Now, let's look at how you might prevent it from happening. Before a ransomware event happens to your network, the attacker needs to infiltrate it. Typically, it happens through phishing campaigns or targeted phishing attacks.
Phishing is the No. 1 method for cybercriminals to gain access to organisations through business emails. Compromised mailboxes can leak credentials and help escalate incidents without the user even knowing what happened.
Our cybersecurity team helps customers to solve such problems daily. They created a guide highlighting the steps that should be taken in case of a mailbox breach.
Depending on the setup of your organisation, the team responsible for each action may vary but the process remains the same:
Once the investigation is concluded:
Life writes surprising stories. Earlier this year, email addresses of 235 million Twitter (now X) users were leaked. The ransomware demand amounted to $200,000.
In June, the cybersecurity world was collectively mobilised due to an attack on the MOVEit vulnerability, with multiple organisations targeted worldwide, from the BBC to the U.S Department of Energy.
How can you counter such threats to your organisation? The answer is in 4 emerging security practices:
The threat is real but there are ways to minimise it – with the right countermeasures. Here are a few key steps to highlight:
Staying up to date with the latest threats, trends, and forecasts is time-consuming, and it takes some effort to find the value. But it is worth it.
If you need support with strengthening your security, SoftwareOne has developed services that can help you protect your digital assets. Contact us to discuss your requirements and increase your protection against cyberthreats.
Share a few details about your business challenge, and we’ll get right back to you.
Share a few details about your business challenge, and we’ll get right back to you.