7 Things You Need to Know About Ransomware

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Ransomware is a well-named type of cyberattack. Cybercriminals taking this approach kidnap your data. After accessing your network, they encrypt files and demand payment for the passcode. Here are the top seven things you need to know about this business threat.

#1 It Can Happen to You

Cybercriminals rely on your false confidence. Don’t think “it won’t happen to me.” Attacks on government, education, healthcare, or financial institutions get publicity. Yet organizations of all types and sizes are targeted.

#2 Ransomware Spreads Fast

Ransomware is malware, malicious software that can reach throughout a network. So, if Jane from accounting opens a ransomware file, every single computer on your business network could be infected. The virus can spread between businesses, too. Consider the debilitating WannaCry ransomware attack of 2017. Within four days of its first detection in Europe, the strain had spread to 116 countries.

#3 Ransomware Targets People

A common method to send out phishing emails in the hope of having people enter their access credentials. Targeted business communication emails work, too. The attacker gets to know your business first. Then they send an email impersonating a colleague, supplier, or customer asking you to take action or update contact details by clicking on the link or downloading a file.

#4 Ransomware is Costly

Once the ransomware is installed on your system, it locks down your files. To regain access to the files, you need the password or decryption key the attacker supplies when you pay up; that’s if they keep their end of the bargain once you pay the ransom. These are crooks you’re dealing with after all!

In Coveware’s analysis of Q3 2019, the average ransom payment increased by 13% to $41,198 as compared to $36,295 in Q2 of 2019. And that’s just the cost of the ransom. Indirect costs include the cost of downtime, lost revenue, and long-term brand damage. There’s also the expense of removing the ransomware, forensic analysis, and rebuilding systems.

The average ransomware attack in Q3 2019 resulted in 12.1 days of downtime. — Coveware

#5 Ransom Requires Cryptocurrency

Ransom payment is usually made by bitcoin or another cryptocurrency. Your business needs to buy cryptocurrency with actual cash, then transmit the ransom. They choose cryptocurrency because it’s very difficult to trace. It doesn’t help you that bitcoin is not something you can charge back like a credit card.

#6 A Recovery Plan Helps

Planning in advance can help you respond more reasonably. Document plans to disconnect infected computers from the network as soon as possible. Also, power down any machines that could be vulnerable to avoid spreading contagion. You should also discuss in advance whether or not your business will pay a ransom. Weighing the costs and benefits without a deadline on the decision can help you react more strategically.

#7 You Can Take Action

You don’t have to sit around worrying and waiting for a ransomware attack. There are many things you can do to help prevent this type of attack:

  • Filter traffic, preventing it from coming into your network in the first place.
  • Scan inbound emails for known threats, and block certain attachment types.
  • Use antivirus and anti-spam solutions and regularly upgrade and patch vulnerable software.
  • Educate all users about social engineering.
  • Allow remote access to your network only from secure virtual private networks.
  • Back up your data to more than one location so that you can restore any impacted files from a known source.

Ransomware is a lucrative, relatively easy mode of attack for cybercriminals. They could target your business. Contact us today for help implementing the best protection practices to keep your data safe. Call us at 402-933-7890.

The Trouble with Trusting Your Online Friends

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Trust is the foundation of a good relationship – you trust friends to be loyal, sincere, and honest. But when you blindly trust online friends, you could be opening yourself up to cyberattack.

When you hear about a big data breach on the news, you may think you don’t need to worry. You may think, “I don’t do business with that company, so the crooks can’t steal my identity.” Or “my email address and password weren’t involved, so it’s not my problem.” Yet it could be.

One of your friends or family members’ personally identifying information may be hacked. Then, cybercriminals could use that as a stepping stone to get to you.

Think you’re safe when you interact with friends and family on Facebook or Instagram? Those aren’t the sites breached! Again, think twice.

Many people reuse their username and password on more than one site. Imagine the bad guys get hold of an individual’s credentials from a malware attack on a major retailer, or they buy that person’s credentials for a banking site on the Dark Web after a breach. The crooks might try the credentials on those sites to see if they can gain access, but they are also likely to try those same credentials on other sites, too.

What to Watch Out for Among Friends/Family

Hackers prey on our impulse to trust others. They have greater odds of success impersonating a Facebook friend asking for help. If a Nigerian prince emails out of the blue and asks for money, most of us know by now to delete the message immediately. But if Aunt Peggie does the same thing via Facebook, you’re more likely to fall for it.

The same thing happens with malicious content. We all know not to click on attachments from people we don’t know and trust. After hacking a social media account, cybercriminals email all that person’s friends. They might say something appealing such as, “you’ve got to check out this latest hilarious video of my son!” We want to see our friend’s son being funny, so we click, and the trouble starts.

One more note: be wary of whom you accept into your “friends” circle online. Adding your niece’s best friend or your work colleague’s husband may seem like a good idea, but, that’s one more possible vulnerability.

Impersonations of people you trust aren’t only happening on social media. You might get emails that appear to be from companies you trust, vendors you know, or work colleagues. For instance, you might get an invoice from your housekeeping service. It looks like usual, with the same services listed, but the banking details are different. If you don’t catch on, you’ll be paying the crooks instead of your cleaners.

Or you might get an email from a “co-worker” asking you to remind them of a password or account number. It seems like a simple request from someone who can afford to be casual about security with you. But don’t fall for a “hey, what was that password again?” request.

Another area of daily life that cybercriminals target is online selling sites such as eBay. They might hack an account with solid feedback to post items for sale. They’ll accept your payment but never deliver the goods.

Ultimately, don’t rely on that browser lock suggesting a site is secure or the fact that you already know so and so. You may not be actually dealing with that individual. Always confirm, using another method of communication, before sending sensitive info or money.

A managed services provider can help you secure online interactions and home computing networks. Want to learn more? Contact us today at (402) 933-7890!

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