Cybersecurity ransomware locks data or systems and demands a monetary ransom. While this attack typically targets individuals or small businesses, any organization can become a victim.
Paying the ransom does not guarantee that stolen files will be restored. Therefore, you must enact preventive measures to avoid this threat.
Deciphering the Suitable Security Measures for Small Businesses
Small businesses can face some of the same cyber threats as giant corporations. However, they often need the budget for an IT department and cybersecurity software to protect them from those threats. That makes them a prime target for bad actors, as the hackers know they don’t have the resources to invest in security measures like antivirus software.
Ransomware, a type of malware that locks a victim out of their system or encrypts their data until a payment is made, is one of the most common attacks against small businesses. This attack is usually delivered through a malicious link in a phishing email or exploits unpatched software vulnerabilities often found on older devices.
Suppose a small business falls victim to a ransomware attack. In that case, it is vital to immediately isolate the device and disconnect it from the internet, network, and other devices. Isolation will reduce the risk of infection spreading to other systems and make recovering from a ransomware incident easier.
It is also essential for a small business to develop and implement a data recovery plan. A recovery plan should include backup procedures and a process for restoring data from backups after an attack. Testing the restore process regularly is essential to ensure it works properly.
Educating employees is another critical part of a small business’s security strategy. Educating staff on how to recognize suspicious activities, such as emails with unusual links and requests for confidential information, can help prevent a ransomware attack from happening in the first place. Many data breaches are caused by human error, and 88 percent of those errors occur because staff don’t recognize suspicious activity as being a threat.
In addition, a small business should look into purchasing insurance that covers the cost of a cyberattack, including customer loss, lost revenue, and legal fees. They should also consider obtaining cyber liability insurance that offers coverage for damage to customers’ computers or phones resulting from an attack.
If a small business doesn’t have the money to pay a ransom or to restore its data, it may need to close the shop. Business closure is possible if the business is hyper-dependent on its data and needs a backup solution to replace lost information quickly.
Preventing Ransomware Attacks
Ransomware can infiltrate organizations, but a few things can be done to limit the impact of an attack and speed up response times. The first step is to prepare a business for malware and ransomware attacks by creating and practicing an incident response plan. In addition, companies can reduce the likelihood of an infection by enforcing the principle of least privilege, which allows users access to only the data they need on their devices. Then, they can prevent devices from connecting to the network and allowing malware to spread by ensuring that all software is updated regularly.
Cybercriminals use phishing emails with malicious attachments to infect PCs and other computers with ransomware. Once the ransomware has infected a machine, it will typically access and encrypt files, replace them with variants with a ransom note, and delete backup copies to make recovery more complex. It may also create a desktop wallpaper that displays a message demanding payment to decrypt the files.
The most essential step in preventing ransomware attacks is to develop and test a security policy allowing only appropriate users to access sensitive information. Employees should be trained to recognize phishing attacks and not open any attachments or click on links that could compromise the system. A policy should also instruct employees to only click on unknown links or install software with the company’s permission.
In addition to a solid policy, businesses need to back up all critical data regularly and keep those backups off the network. Some ransomware variants can search for and encrypt or delete data backups, so backup systems should not be connected to the network for optimum protection.
When an attack occurs, it is vital to immediately disconnect all infected computers, laptops, and other devices from the network. In a severe case, this may even include disconnecting core network connections (including switches) or turning off Wi-Fi to prevent the spread of the malware and ensure that all systems can be restored with clean backup data. It is also essential to reset credentials, including passwords (especially administrator and other system accounts), to help speed up recovery.
Detecting Ransomware Attacks
One of the best ways to combat ransomware is to detect an attack when it starts. Security tools can identify ransomware strains based on their digital signatures and heuristics. However, cybercriminals are continually developing new malware variants. These novel strains may not appear in antimalware databases or heuristics.
Often, the first sign of a ransomware infection is a file being renamed with a random extension. The malware encrypts files and deletes backups, making it impossible to recover a file without paying a ransom. Additionally, it may change network configurations and firewall rules to prevent detection by existing systems.
Detection methods for ransomware include examining system and network activity, spotting abnormal file executions, and identifying API calls. Generally, attackers need to access a server on the network to execute an attack. Consequently, they will create a proxy or software on a computer or virtual machine (VM) to communicate with the server. Alternatively, they will use public file-sharing websites to upload the malicious code to their servers. Once the code has been uploaded, the malware encrypts a victim’s data using its symmetric and asymmetric encryption keys. Once the encrypted data is unreadable, it places a message on the victim’s screen asking for payment in exchange for the decryption key.
Other ransomware indicators include suspicious inbound and outbound network traffic, as attackers connect to command-and-control servers to receive instructions or exchange decryption keys. In addition, attackers will attempt to hide their presence by deleting log files and creating new accounts with privileged credentials. Lastly, companies must monitor privileged accounts closely, as criminals often exploit privileged users in ransomware attacks.
Ultimately, the most significant loss a company experiences in a ransomware attack is not the payment of a ransom but the time and money it takes to restore backups and reinstall applications. The best way to avoid these losses is to have a robust cybersecurity solution that can stop a ransomware attack before it starts and a full backup schedule that ensures you can always regain your data.
Recovering from Ransomware Attacks
Ransomware is malware that encrypts files and demands a monetary payment to decrypt them. It’s a crime of extortion, and cybercriminals have been using it to make money and take over networks. It’s a dangerous threat to your business, and you must prepare for an attack by having a data backup solution in place.
Ideally, it would be best if you had backups stored offsite. The malware will not affect these backups, so you can restore your files and return to work without paying the ransom. But even with this, you need to know how to detect a ransomware attack and what steps to take after it happens.
The first step is to identify the type of ransomware. Identifying the type of ransomware will help you determine whether it’s worth paying the ransom or not and provide you with valuable information that you can use to improve your cybersecurity defenses.
In addition, identifying the type of ransomware may allow you to discover weaknesses in your security systems and patch them before hackers exploit them. It’s also essential to immediately disconnect the infected device from your network and external storage devices. This will limit the spread of malware.
It’s also essential to have a data recovery plan in place. A data recovery plan will ensure you can regain data access during an attack. It should include regular and tested backups to recover from an attack and minimize downtime quickly. Having immutable backups is particularly helpful in protecting against ransomware because it makes it impossible for attackers to scramble your data.
Once you’ve isolated the infected machine, restore data from backups. It would be best to use a backup solution to clone backups and serve them to users instantly, so you don’t have to move or copy the files manually. You should also have a way to recover from remote locations, such as with a cloud-based data management solution.
After restoring data, running an antimalware scan and wiping the machine if necessary is essential. Changing all system, network, and account passwords and contacting stakeholders as your incident response plan dictates is also a good idea. Internal stakeholders include employees like executive leadership, third-party vendors, and customers.