What is Ransomware?
According to the National Cyber Security Centre, it “is a type of malware which prevents you from accessing your device and the data stored on it, usually by encrypting your files. A criminal group will then demand a ransom in exchange for decryption.”
The group prevents you from accessing your computer and data. It threatens to delete or leak your data if you do not pay the ransom.
This year, the news informed us of well-known Albuquerque and Santa Fe businesses attacked by ransomware. These included government offices, hospitals, and public schools. For example, ransomware attacked New Mexico Highlands University in April 2024. The attack did not threaten their private data but delayed their classes and employee payroll.
Many business owners believe they need to be larger to worry about potential targeting. The truth is that most businesses need to be bigger to make the news.
Cybercriminals prefer to target small and medium-sized businesses. It takes less effort, and they can make a lot of money. When these businesses are attacked, owners often pay to get their important data back.
Small and medium businesses are often targets. Therefore, it is important for you, as a business owner, to face these risks directly and not ignore them.
According to Chainalysis.com, “Ransomware payments in 2023 surpassed the $1 billion mark, the highest number ever observed.”
Imagine this: You are in your office, and a message pops up on your computer. A ransomware attack hits your business! Cybercriminals lock or encrypt your data, charging you a hefty ransom to get it back.
What if you can’t afford this ransom?
Cybercriminals will present you with two options that you may take instead:
- Make a payment to delay the release of your stolen data or
- Make a payment to erase your stolen data before it’s released to the public.
If you aren’t stressed out enough, these criminals have more tricks to pressure you: countdown timers, view counters, and tags that reveal your identity. These tactics make you feel you have no other choices and need to pay their ransom but wait!
Before you do that, paying the ransomware demand will lead to more negative consequences than you think.
It does not guarantee that you will get your data back or won’t receive more demands in the future. By doing so, you are proving to the criminals that their tactics work, and they will look for more victims. Use other recovery options first, like reporting the incident to your IT Security Company, restoring from backups, and using decryption tools.
Almost impossible to be the winner when attacked by cybercriminals. To help avoid becoming a victim in the first place, follow the steps below.
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Take Preventative Steps
- Regularly Update and Patch Software: Keep operating systems, applications, and software up to date. Install security patches as soon as vendors release them, especially for software vulnerabilities.
- Install trusted antivirus and anti-malware software on all devices: Not all antivirus software is created equal. Most people buy from big box stores, but that does not mean it meets their security needs. Contact us to learn more.
- Implement Network Segmentation: Keep important systems away from less sensitive parts of the network. Limit access between different areas to help stop the spread of ransomware during an attack.
- Maintain Secure Backups: Perform regular backups on all systems. Keep backups in a safe place. Backups are immutable, which means that they wont get affected if ransomware hits. Regularly test backup recovery procedures to ensure you can restore data quickly.
- Restrict User Permissions: Apply the principle of least privilege by giving employees only the access necessary for their role in the business. Restrict administrative access and use non-administrative accounts for daily tasks.
- Use Multi-Factor Authentication (MFA): Enable MFA for all user accounts, especially for remote access and accounts with administrative privileges. Use MFA for email accounts and cloud services.
- Educate and Train Employees: Set up security awareness training for your employees. This will help them spot phishing emails, malicious software, harmful links, and other social engineering attacks. Encourage employees to report suspicious activity immediately.
- Configure Email Filtering: Use email security solutions to filter out spam, phishing emails, and malicious attachments. Block file types commonly used to spread ransomware (e.g., .exe, .zip, .js).
- Disable Unnecessary Services and Ports: Turn off unused remote desktop protocol (RDP), file-sharing services, and other services attackers could exploit. Restrict the use of RDP and use strong authentication methods for remote access.
- Monitor and Analyze Network Traffic: Use network monitoring tools to monitor unusual activity, such as large file transfers or data exfiltration attempts. Implement intrusion detection/prevention systems (IDS/IPS) to identify potential threats.
- Implement Data Loss Prevention (DLP) Measures: Use DLP solutions to watch over sensitive data leaving your network. Set up alerts for possible data leaks.
- Prepare an Incident Response Plan: Create and test a ransomware attack response plan that outlines how to detect, contain, and recover from a ransomware attack. Ensure that all key personnel know their roles and responsibilities during an attack.
- Review and Test Cyber Insurance Coverage: Evaluate your cyber insurance policy to understand coverage for ransomware incidents. Work with your insurer to review the policy with your security needs.
By implementing these measures, you will lower the possibility of becoming a victim to a ransomware attack. By creating and updating your cybersecurity practices and training, it will keep your defenses strong against these threats.
How Zia Networks Can Help
Zia Networks can help businesses prevent ransomware attacks by providing proactive IT support and cybersecurity services. Our team operates strong security measures like firewalls, cybersecurity software, and regular security updates to protect against ransomware threats. We provide employee training on identifying phishing scams, a common entry point for ransomware.
We are ready to assist if your business experiences a ransomware attack. Our team can help contain the threat, assess the impact, and work to recover any encrypted data. We’ll guide you through the best response steps, including securing backups, removing the ransomware, and strengthening your defenses to prevent future attacks.
