Ransomware Threats and How to Protect Against Them
Ransomware is malware that, once inside your computer, encrypts data or files so they can’t be accessed. Once the files are encrypted, cyber criminals display a screen that demands payment to get them back. Typically, attackers demand a certain amount of cryptocurrency to give you access to your data again, with the threat of exposing businesses and publicizing their victimization if you don’t pay up quickly enough.
These threats have grown increasingly sophisticated over the past several years as criminal gangs entered the field and refined their tactics. They can now use multiple methods to gain access to your organization, from brute-force phishing attacks to exploiting vulnerabilities and using stolen credentials.
In 2024, Ransomware attack incidents rose most significantly in the software development sector and healthcare. Attacks also continue to target large organizations.
Cybercriminals are relying on ransomware as a successful business model that provides lucrative monetary returns, and it’s a growing problem with no signs of slowing down. Annual ransomware-induced costs are projected to surpass $265 billion by 2031.
Ransomware variants are constantly changing, evolving to stay ahead of the cybersecurity defenses. In addition to new strains with new cryptographic algorithms, cyber criminals are using creative themes and marketing tactics. For example, the infamous NotPetya ransomware attack was based on the COVID-19 pandemic and offered victims a discount if they spread the malware to two other computers.
The best way to protect against ransomware is to keep your systems up-to-date with all patches and updates. Quarantine your machines when you detect ransomware infections and limit the impact to your organization by limiting network access. Creating backups and keeping them in multiple locations is important for restoring data if an encryption fails. Additionally, leaving your computer on is an important security measure because the encryption process can cause instability in volatile memory, making powering off the machine more difficult.