Businesses need to focus on the basics to defend against ransomware
A new whitepaper released today by O'Reilly and based on a survey of tech professionals experiences of ransomware concludes that basic security practices like backups are key to surviving an attack.
Of 950 respondents to the study only six percent had experienced a ransomware attack directly in the organization they work for and, by and large, these organizations have strong security measures in place.
Initial Access Brokers refine their ransomware-as-a-service model
We've looked before at the phenomenon of Initial Access Brokers, cybercriminals who breach systems and then sell access to the highest bidder.
It seems that during the pandemic IABs have been busy improving their business model. New research from threat intelligence company KELA shows that pricing is often determined by company size and the level of privilege on offer within the compromised network, with $5,400 as the average price for network access, and $1,000 as the median price.
New software improves ransomware resilience and recovery
Ransomware attacks are growing in severity and volume, bringing increasing costs and financial, legal, and other challenges.
Businesses need to be sure they can recover from an attack and data management specialist Zerto aims to provide the means with its latest offering Zerto 9.
Is detection of ransomware the key solution for small business rather mitigation?
According to Checkpoint Research, ransomware attacks have surged significantly, hitting a double-digit increase of 93 percent year-on-year. As of June 2021, the number of organizations impacted by ransomware has risen to 1,210. This exponential rise is also attributable to the migration to remote work globally. The amount paid by victims of these attacks has increased by almost 300 percent in 2020 alone
These staggering statistics paint a grim picture of the security threat that companies face. As early as July 2021, as many as 1,500 businesses world-wide have been affected by ransomware attack -- REvil. The group has reportedly used Kaseya IT software as backbone for this notorious attack. Around $70 million dollars were demanded from the affected companies to restore business data. The companies that majorly came under the radar were supermarkets, IT companies -- primarily small to medium sized, schools and kindergartens
What to do after a ransomware attack [Q&A]
Ransomware is a major problem and ideally while you'd like to avoid being attacked, the chances are that at some point you're going to be a target.
So, what happens following an attack and what should organizations be doing immediately afterwards to lessen the impact? We spoke to Ed Williams, EMEA director of SpiderLabs at Trustwave, to find out and to get some tips on how to proactively secure against ransomware attacks in future.
Universal decryptor now available for REvil ransomware
It is now almost three weeks since the gigantic ransomware attack that exploited a vulnerability in Kaseya VSA remote management software. The attack affected millions of devices and the group behind it, REvil, had been demanding a $70 million ransom.
There had been great concern about the fall out from the attack due to the apparent disappearance of REvil which made it impossible for anyone willing to pay the ransom to do so. Now a universal decryption key has been obtained from a "trusted third party", giving victims the chance to regain access to their data without the need to part with any money.
Businesses fall victim to ransomware despite precautions
According to a new survey of 200 decision makers in businesses that had suffered a ransomware attack since 2019, more than half of victims had received anti-phishing training and 49 percent had perimeter defenses in place at the time of attack.
The study conducted by Sapio Research for Cloudian finds that phishing continues to be one of the easiest paths for ransomware, with 24 percent of attacks starting this way. Phishing succeeds despite the fact that 54 percent of all respondents and 65 percent of those that reported it as the entry point have conducted anti-phishing training for employees.
How stopping lateral movement can defend against ransomware [Q&A]
Over the last couple of years the number of ransomware attacks has soared. While high profile attacks make the headlines organizations of all sizes are at risk.
One of the keys to stopping attacks is to prevent them from moving laterally through networks. We spoke to Amit Serper, area VP of security research for North America at microsegmentation specialist Guardicore to get his view on how businesses can protect themselves.
Ransomware gangs get more professional
Ransomware, and indeed malware generally, used to be something of a cottage industry, the preserve of individuals or small groups. But new research from threat intelligence company KELA shows that it's becoming a highly professionalized industry.
Many cybercriminals are now specializing in different areas, so that the coding, spreading, extracting and monetizing processes might all be carried out by different people.
How to mitigate ransomware attacks
Ransomware attacks are a type of cybercrime where hackers will use malware to encrypt computer (or network) files, locking users out of the system until a ransom is paid to a cybercriminal. Ransomware attacks have been around since the mid-2000s but they’ve made recent headlines as attacks against Colonial pipeline and the U.S. meat industry have shown that they are more than just a technology challenge, and can also significantly disrupt everyday life.
Between ransoms paid and lost productivity, ransomware attacks cost U.S. businesses an estimated $2.3 Billion in 2020 alone. The disruption caused by the COVID-19 pandemic, the popularization of cryptocurrency as a ransom payment, and support (or lack of prosecution) from foreign states have created an ideal environment for ransomware attacks to flourish.
Tracing the ransomware family tree
Ransomware is behind many of the latest cyber attacks and it can be hard for defenders to track the ever-growing number of variants and the botnets behind them.
Threat intelligence company DomainTools has been taking a look at the booming underground economy surrounding ransomware with a focus on the most prolific ransomware families.
New platform lets businesses assess their ransomware attack readiness
Automated security validation company Pentera has launched a new module for its platform that emulates the world's most destructive ransomware strains.
It shows CISOs exactly how attackers and ransomware threats will exploit their network and infrastructure, safely automating real adversary tactics and techniques inside the network.
Businesses that pay ransoms are more likely to suffer second attacks
A new study shows that 80 percent of businesses that chose to pay a ransom demand have suffered a second ransomware attack, often at the hands of the same threat actor group.
The research from Cybereason also reveals that of those that opted to pay a ransom demand in order to regain access to their encrypted systems, 46 percent report that some or all of the data was corrupted during the recovery process.
The rise of ransomware: How to protect a modern company
In 2021, the cost of ransomware attacks is expected to exceed more than $20 billion worldwide. Ransomware has emerged as one of the most lucrative, elusive, and easy-to-implement methods of cyber-attack currently available. Being able to hold a company, its operations, and its data completely hostage presents a great opportunity for malicious hackers looking to maximize their earnings. This is made more attractive by the fact that many businesses lack the preparation necessary to sufficiently protect themselves from ransomware attacks. In a world where companies have become increasingly reliant on technology to store, manage, and facilitate their data and processes, business security solutions have never been more important.
The goal of this article is to analyze the rise of ransomware attacks and identify the ways in which an organization should protect itself against this increasingly popular form of cybercriminal activity.
The most destructive cybersecurity threats in 2021
With companies relying more on technology, such as web applications, third-party solutions, and cloud computing than ever before, corporate cybersecurity has had to become the backbone of modern businesses. In the presence of remote work environments where IoT security has never been more vulnerable, companies need to effectively and quickly adapt to the rapidly evolving methods and techniques that hackers are beginning to employ.
Business vulnerabilities like a weak human firewall could lead to an increased susceptibility to a variety of cybersecurity attacks, such as ransomware and DDOS attacks. But despite all of these challenges, comprehensive and reliable cybersecurity solutions are very much achievable when approached correctly. In order to protect yourself against contemporary security threats, however, one must first understand the threats and risks they are trying to prevent and mitigate.
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