What is Ransomware and How Does it Affect Your Business?
Ransomware is malware that encrypts files on victims’ systems and, in most cases, renders them unusable until they pay the ransom. Typically, users are alerted on a computer’s lock screen or through a message on an email that the ransom must be paid with cryptocurrency like Bitcoin to recover the data. Once paid, victims may or may not receive a decryption key, depending on how the attackers work.
Ransomeware is a very profitable attack model for criminals, with a single payment potentially netting them tens or hundreds of thousands of dollars. This has fueled criminal gangs to develop newer strains of ransomware that target critical businesses and even entire cities or nations.
Historically, encrypting ransomware targeted personal computers, but as threats evolved it moved on to target business systems. This was due to the relative ease of attacking these targets and their large potential payouts. As a result, you should expect to see attacks targeting business systems and infrastructures that support the day-to-day operations of a company or city, such as transportation, power and water.
Often, these attacks will be launched via email with malicious attachments or links. To avoid infection, don’t click on unsolicited web links or enable macros in emails. Instead, learn how to spot malspam and how to protect against social engineering attacks. In addition, regularly check your network for misconfigured firewall rules that can let malware through. Lastly, it is vital that all employees understand that the best way to keep their data safe is to avoid suspicious activities at all times.