Cyber criminals have taken to new strides in monetizing hacking. According to Cybersecurity Ventures, ransomware attacks could cost the world $265 billion by 2031. Many large corporations like Colonial Pipeline and CNA Financial are becoming victims of ransomware. Even a major technology company – Kaseya, whose software is used by many IT service providers – also got compromised. According to studies by Purplesec.us, ransomware affects businesses every 14 seconds. So it is alarming to all types of organizations to employ safety measures for preventing against such threats.
Let’s first analyze, how Ransomware attack works
Ransomware penetrates through the network in many ways. Such as in the form of a malicious link, an email attachment, a pop up, or a hyperlink to a malicious or virus hosting site. The infection takes effect by encrypting the data, and spreads at an increased rate and intensity. Which may even be likely owing to “work from anywhere” scenario due to the Pandemic. Since it becomes difficult to deploy security protocols for decentralized assets, a single casual click from anywhere could pave the way for ransomware to corrupt entire organizational data over the network. And from there, it could further slip in-between emails far and wide internationally.
Pay it or lose it!
The end results to the victims have been frustrating, financially, emotionally and socially. It feels hopeless to have your data but without the freedom to access it. Most organizations are helpless in dealing with extortions to decrypt millions of files. Moreover, there is no guarantee that the hacker will fully release the data access with the victim, upon receiving the ransom money. And there is always added risk should the hacker be entrusted to further take control of the organizational assets in the guise of a decryption tool.
The vulnerabilities
Following lapses in network security can cause ransomware attacks.
- Un-necessary open network ports
- Publicly open RDP ports
- Simple and unreliable password authentication method
- No firewall
- No spam filters
Traditional protection options
Up until now most sophisticated organizations implemented following preventive measures and deterrents to counter cyberattacks vulnerability.
- Advanced IT Security policy
- A Strong Firewall
- Strong user authentication methods (Multi Factor Authentication)
- End to End VPN
- Logging for the Administrators activity
- Hot backups
- Keep data on Cloud and have versioning enabled.
- Security training for the end users and keep them aware on the current cyber security issues
However, the above-mentioned measures are no longer enough. Therefore, up until now, there was no viable solution to deal with ransomware threats.
A new Cyber Security Approach!
The above-mentioned approaches are very costly, time-consuming, and imperfect. However, now there is a new solution called Endpoint Detection and Response (EDR). EDR can not only take good preventative measures to protect your network but also very quickly roll back your infected devices to their pre-infection state. EDR is a proven deterrent against ransomware and phishing attacks. This solution is a game changer for cyber security, but most organizations are slow in adopting this approach.
How we can help
CRES Technology backed by leading EDR solution providers has implemented sound threat prevention and recovery solutions for customers. We also possess deep knowledge and experience in Cyber Security Management. Our comprehensive Cyber Security as a Service can provide you peace of mind, against any potential threats and ransomware attacks. Therefore, we welcome you to a thorough cyber security audit, to assess your organization’s threat preparedness for any unforeseeable incident that could be looming around the corner.
About Waqar Hussain
CRES Technology – Director IT Services
A technology leader with outstanding knowledge, technical expertise, and a proven track record of leading complex infrastructure projects and managing help desk teams.
