The Rise of Double Extortion Ransomware: Understanding The Threat
Ransomware is a sort of cyber-attack in which software encrypts a company's system. The cybercriminal will then hold them hostage and demand a large number
of money in order to restore their data. An attacker will employ asymmetric encryption to jumble your data, which means you will be unable to access it unless you
know the difficult mathematical equation that the hacker has imposed. If the virus discovers security flaws in your network, it can propagate to other systems or
even other organizations.
Who is the most probable victim of a ransomware attack?
The most prevalent industry targeted is banking and finance. After that comes: utilities, education, health, and government. Although the industries listed above are
the most regularly targeted, ransomware gangs will target any firm that has valuable data, therefore all businesses should protect themselves.
Although the industries listed above are the most regularly targeted, ransomware gangs will target any firm that has valuable data, therefore all businesses should
protect themselves.
Double Extortion Ransomware
A double extortion ransomware attack occurs when an attacker obtains and exfiltrates data from a victim while also encrypting it. This provides the attacker greater
clout to demand a successful ransom payment. The goal of this attack is to acquire access to sensitive or humiliating personal data and utilize it to obtain greater
ransom amounts. This might be corporate secrets or client data in the case of enterprises.
How can you avoid a ransomware attack?
The following are some important things to take to reduce your chances of being a victim of a ransomware attack:
1. Back up your data
The simplest approach to retrieve lost data is to use a backup service. It is critical that your backup location is not connected to your network since it may be encrypted
during a ransomware assault.
2. Keep numerous backups of important data
The cloud is the most convenient and cost-effective option to store multiple backups.
3. Install antivirus software and add additional security features
Security products should be used to plug gaps in your IT infrastructure. Security tools can help to improve your security posture.
4. Employee Education
Cybercriminals utilize social engineering to identify flaws in a company's personnel. Regular cybersecurity training will assist your personnel in detecting and reporting
suspicious activities.
Is it necessary for me to pay the ransom?
Many security organizations believe that paying a ransom price is pointless since there is no guarantee that the cybercriminal will return your data. After you have paid the
initial ransom price, the attacker may want more funds. Furthermore, the ransom earnings might be used to support additional criminal behavior including organized
cybercrime. Instead of paying a ransom price, organizations can invest in improving their security posture to reduce the danger of cyberattacks.
What should I do if I’m a victim of a ransomware attack?
If you discover a ransomware assault, you should immediately:
1. Disconnect the infected systems immediately.
2. Close all network connections.
3. Passwords should be reset if necessary.
4. Before recovering data from a backup, ensure that the ransomware infection has been eradicated from your network.
5. Run an antivirus to assess your network's security.
6. Run antivirus scans on network traffic to check for any remaining infestations.
Don’t Let Ransomware Affect Your Business
Because of the profitable nature of these attacks, ransomware occurrences will continue to cause significant headaches for organizations. Most ransomware protection services
provide either protection or data recovery, but seldom both. This is where ACM comes in. We combine protection, recovery, and a team of qualified technical professionals to
give a degree of cybersecurity that organizations cannot provide on their own. Contact us now via our hotline at 6295 5962
or drop us an email at info@achievement.com.sg to
learn more about ransomware and we will provide you with the peace of mind to focus on what you do best.
