What is Ransomware and How Does it Affect Businesses?
Ransomware is a type of malware that encrypts files on an infected computer system and then asks for a ransom to be paid in order to decrypt them. It is a major problem for businesses of all sizes, as it can lock down a network or server so that critical data cannot be used.
Typically, ransomware will encrypt files by using an encryption algorithm that is difficult to break. It can then create a text file that acts as the ransom note, letting the user know that their files will be encrypted and can only be decrypted with a code key provided in exchange for a payment.
Most extortion ransomware is based on the principle that the victim must pay up before they can get their files back, usually via a cryptographically secure payment platform such as Bitcoin or Ether. This is a highly profitable method for threat actors who can quickly recoup their initial investment from a successful ransom attack.
While the early versions of ransomware mainly focused on personal computers, it is increasingly common to find attacks targeting business users. As businesses will often pay more to unlock their systems and resume operations, they are a lucrative target for attackers.
There are a number of methods that can be used to identify and defend against this threat, including implementing least privilege and separation of duties, implementing strong network access controls, and routinely auditing permissions and roles. In addition, network traffic analysis can be used to detect the anomalous behavior of some ransomware families.