EDITOR ’ S QUESTION
TOM CALLAHAN , DIRECTOR OF OPERATIONS ( MDR ) AT PDI
SECURITY SOLUTIONS
One of the more interesting recent developments in the cyberthreat world is the concept of extortionware or doxware .
One thing to keep in mind is that cybercriminals are almost always ahead of any security solutions simply because they ’ re on the offensive , and everyone else is trying to predict what they ’ ll do next .
As much as we want to be proactive , we often end up having to react to whatever new threats they create . One of the more interesting recent developments in the cyberthreat world is the concept of extortionware or doxware .
By now , almost everyone is familiar with ransomware , where cybercriminals essentially lock out businesses or government entities from their systems and data until a ransom is paid . Extortionware is even more dangerous , because it goes a step further .
Like ransomware , the attacks typically involve a computer infected via a phishing email . Where extortionware differs is primarily the sheer escalation of the threat .
For instance , if you try to negotiate too aggressively or refuse to make the ransom payment , it ’ s no longer just about getting locked out from your data and systems .
Instead , cybercriminals are actually taking your ( theoretically ) confidential data and uploading to a public venue or selling it off to the highest bidder .
Even if you ’ ve strengthened your backup and recovery capabilities , a cybercriminal might need only a few minutes to access confidential data-such as PII , cardholder information or HIPAA-regulated records – and they suddenly have enough materials to extort you .
The resulting damage can be both extensive and expensive : regulatory fines , legal fees , damage to your reputation , and the vast time and effort required just to identify exactly what ( if any ) data has actually been breached .
When the difference between ‘ business as usual ’ or
a complete shutdown depends on whether a single employee clicks on the wrong email link , you simply can ’ t afford to take any chances .
The elevated level of threat posed by extortionware makes it even more critical to implement a solid security awareness training program for all employees .
It ’ s also important to focus on additional threat prevention methodologies so you never get hit by this type of cyberattack .
Investing a little upfront time and money as ‘ cybersecurity insurance ’ can go a long way in avoiding a preventable disaster .
The elevated level of threat posed by extortionware makes it even more critical to implement a solid security awareness training program for all employees .
34 INTELLIGENTCIO NORTH AMERICA www . intelligentcio . com