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Cybercriminals have made digital extortion a highly organized and profitable venture. Ransomware attacks, which were initially simple attacks by cybercriminals that involved the extortion of money from victims in exchange for the decryption of the files that were encrypted by the attackers, have taken a different turn.
Modern ransomware attacks have become much more sophisticated, and businesses of all sizes have been forced to contend with the advanced cybercriminals who have been employing complex techniques in order to avoid the traditional security measures. With this in mind, in order to build a much more robust security posture, it is essential that businesses understand the changes that have taken place in ransomware attacks.
The Rise of Double Extortion and RaaS
The days of dealing with simple ransomware attacks by cybercriminals, whereby the attackers encrypt the files of the victims and then ask for money in order to unlock the files, have been passed. The cybercriminals have started employing a much more sophisticated technique that has been referred to as double extortion.
The double extortion technique has given the cybercriminals much more power and control over the victims. Attackers have been stealing sensitive information from the victims’ systems and encrypting the files. The attackers have been giving the victims the option of either paying the extortion money in order to get the decryption key for the files or risk having the stolen files that were exfiltrated from the victims’ systems leaked on the internet. This has been putting much pressure on the victims to pay the extortion money in order to avoid the potential damage that the leaking of the stolen files would cause on the victims’ reputation and the subsequent fines that would be imposed by the relevant authorities in the country.
The other notable change in the ransomware attacks is the use of Ransomware-as-a-Service (RaaS), which has allowed the developers of the ransomware software to lease the software to other cybercriminals who have been referred to as affiliates. The affiliates have been using the ransomware software in order to carry out the attacks, and in return, they pay the developers a percentage of the money that they have been making from the extortion of money from the victims. The use of RaaS has made it much easier for the cybercriminals with little skill to carry out devastating attacks on businesses around the globe.
Common Entry Points
Despite the sophistication of ransomware attacks, the entry points of hackers are surprisingly simple. The first entry point of hackers into a company’s network is phishing. In a phishing attack, hackers send emails to employees that are intended to trick them into clicking on a malicious link or downloading a malicious file. The emails are becoming more sophisticated and are often disguised as legitimate emails sent within the company or from a trustworthy source.
The second entry point of hackers into a company’s network is through technical vulnerability. In many instances, hackers have used technical vulnerability to get into a company’s network. For instance, hackers have used the Remote Desktop Protocol exploit to get into a company’s network. Due to the rise of working from home, the Remote Desktop Protocol exploit is becoming more and more common.
In some cases, hackers are using stolen credentials to get into a company’s network anywhere in the world. In others, hackers are taking advantage of companies that are not updating their software. This technique is so successful because companies are often aware of but are failing to update their systems. This gives hackers an open door into a company’s network.
Building a Proactive Defense
While the threats continue to evolve, it is more important than ever to develop a proactive approach to a defense strategy. The most significant part of a defense strategy is employee training. It has been found that, in many cases, it is because of employee error that a hacker is able to successfully infiltrate a company’s network. In many cases, employee training is considered to be the best approach to prevent a hacker from successfully infiltrating a company’s network. It is recommended that regular training sessions be held to keep security at the forefront of every employee’s mind.
The technical aspects are just as significant as the non-technical ones. It is recommended that Multi-Factor Authentication be enabled on every system. This provides an added layer of security to a company’s systems. This prevents a hacker from obtaining access to a company’s systems, even if they have obtained login credentials. It is also significant to be aware of the ransomware attacks that occur. It is recommended that security teams make effective use of a ransomware tracker to keep track of active ransomware groups.
Preparation for the Inevitable
In spite of taking every precaution to prevent a hacker from infiltrating a company’s network, there is still a threat that a hacker could infiltrate a company’s network. However, it is believed that the future of cybersecurity is not in preventing a hacker from infiltrating a company’s network, but rather in preparing a company to respond to a potential breach of security. It is recommended that a comprehensive plan be developed to address what steps to take in case a breach in security is detected!
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This content is brought to you by Hyder Ali
Photo provided by the author.
