Ransomware. We hear about another major attack almost every day on companies like JBS, Kaseya and Quanta. These are key suppliers to Apple. Recent reports have shown that the average ransomware recovery fee has risen to $1.85million this year. The average ransomware payment has increased to $170,000 as ransomware attackers are more willing to pay ransom to restore mission-critical operations.
Ransomware Attacks Proliferate
To combat this problem, it is important to understand how ransomware works. Ransomware, which is a type of malware that spreads rapidly, can cause havoc similar to an infectious disease. Hackers can only succeed by targeting vulnerable businesses, and unaware end users. Amazingly, ransomware transmission is mainly via traditional attack vectors that haven’t changed much over the years. These include phishing emails, visits to infected sites, and visits to infected websites.
Users are usually presented with a popup notification upon infection. This informs them that encrypted files have been created and that they need to pay immediately. Productivity can be slowed to a crawl when an encrypted file stolen from an infected user’s computer syncs with the cloud and other company devices. Many businesses may not have a multi-layered ransomware defense strategy. The fastest way to get access to files is to pay ransom and comply with the attackers’ demands.
Attacks can have a ripple effect beyond the cost of the initial key. Businesses might be required to perform event impact analysis, set up disinfection machines, and manually restore backups. It can take several weeks, depending on how complex and large the organization’s data environment. Attackers often try to exploit additional vulnerabilities within the company’s infrastructure during the recovery period, especially if they have a history of making ransom payment.
Ransomware’s Evolution
Even with the most effective security measures, it is becoming increasingly difficult to prevent attacks. Anne Neuberger, the U.S. deputy national secure advisor for cyber- and emerging technology, gave this advice in a White House memo dated June 20, 21:
Some attackers may have rearranged the speed of encryption to make their malware more predictable. This can help keep the infection volume below that of traditional detection software. Ransomware can be made harder to detect by randomizing file overwriting and making ransomware “dormant”.
Ransomware developers have begun shifting their delivery methods in addition to changing encryption methods. Hackers are now using file attachments to trick employees into questioning suspicious emails links. These attachments, disguised as common file types like.doc, JPEG, xls, or xls files, can launch ransomware scripts if opened.
Understanding the Importance Of Defense in Depth
While conventional security solutions may reduce the chance of ransomware infections, attackers are well aware of the weaknesses of common defenses like firewalls, email encryption, web gateways and antivirus software. This allows attackers to adapt their strategies.
While you can put together a solid backup plan and train your employees to be vigilant, ransomware can quickly evolve into new variants that are difficult to identify using signature-based methods. A multilayered approach to data protection is best, with account blocking, anomaly detection and version control.
Increase Your Ransomware Protection
These practical tips will complement your defense in-depth strategy and help to prevent ransomware infections.
- Always utilize Multi-Factor Authentication (MFA).
- All employees should be trained in security awareness, both when they are hired and every other day thereafter.
- Users’ file access should be restricted based on what their “business needs to know”.
- Software patches should be implemented immediately. Only do business with trusted vendors.
- Evaluate ransomware detection technology.
Advancing Data Protection
Egnyte is a ransomware-fighting tool that was designed to protect you from all forms of ransomware.
Early detection
Egnyte uses machine learning algorithms to alert you if ransomware breaches your security perimeter. It can also detect anomalies like inconsistent file types. Our solution detects evidence of infection by identifying file extensions with known ransomware signatures or modified files.
Better protection
We quickly notify your administrator if we find any irregularities and allow them to block the affected accounts. This will help stop ransomware from spreading. We track the source of ransomware back to its source by identifying every encrypted file. Egnyte gives admins and end-users peace of mind by helping to limit data loss and containing any damage.
Quick recovery
Because disaster recovery is built into our content structure, we don’t need external backup services. We instead provide file snapshots of changes as they occur, making it easy to restore to the most recent clean version of your files without risking sensitive company data. Our platform fights ransomware at a fine level so that no valuable data is lost, and business can continue without interruption.