RANSOMWARE
" CYBERCRIMINALS INVOLVED IN RaaS MODELS HAVE BECOME MORE CONFIDENT IN THE STRENGTH OF THEIR MALICIOUS SOFTWARE , MOTIVATING THEM TO RAMP UP THEIR RANSOM PAYMENT DEMANDS ."
Regardless of whether RaaS developers have customers or affiliates , once these cybercriminals receive the developers ’ software , they can use it to execute ransomware attacks on their targets , potentially resulting in widespread disruption , damaged or destroyed data , reputational repercussions , and significant financial fallout for the affected organizations . Well-known RaaS incidents include WannaCry , Cerber , MacRansom , Philadelphia , Atom , Hostman , and FLUX .
THE IMPACT OF RaaS
Prior to the emergence of RaaS , cybercriminals needed to possess extensive software knowledge and coding capabilities in order to pull off a ransomware attack . In other words , only the most sophisticated cybercriminals could successfully launch such attacks and obtain ransom payments from their victims .
However , the introduction of RaaS to the dark web has allowed cybercriminals of practically any skill level and very little technical ability to accomplish this feat with a simple purchase , contributing to a rapid increase in the frequency of ransomware attacks as a whole .
In addition to attack frequency , cybercriminals involved in RaaS models have become more confident in the strength of their malicious software , motivating them to ramp up their ransom payment demands . This is particularly true with RaaS affiliate programs . Because affiliates only receive a portion of the overall ransom payment following an attack , an elevated payment demand provides them with a larger profit .
That being said , the RaaS model has played a major role in increasing both the frequency and cost of ransomware events in recent years , compounding the expected consequences that affected organizations will face for an already severely damaging form of attack .
ADDRESSING RaaS CONCERNS
The best way to minimize the growing threat of RaaS concerns at your organization is to make ransomware prevention and response measures a top priority . Remember that ransomware attacks are commonly deployed via phishing emails , deceptive links , dangerous websites , harmful attachments , and malicious programs . With this in mind , here are some best practices for combatting ransomware attacks :
• Secure your systems — First , it ’ s important to take steps to protect your organizational IT infrastructure from potential ransomware exposures . This may entail :
• Using a virtual private network ( VPN ) for all internet-based activities ( e . g ., browsing and sending emails )
• Installing antivirus software on all workplace technology
• Implementing a firewall to block cybercriminals from accessing your organization ’ s VPN
• Restricting employees ’ access to websites that aren ’ t secure
• Establishing email filters to keep phishing messages from reaching employees ’ inboxes
• Encrypting sensitive data on all organizational devices and routinely backing up this information
• Limiting which employees receive administrative controls to prevent inexperienced staff from mistakenly downloading a malicious program
• Regularly updating all organizational devices and security programs to ensure effectiveness
• Developing a cyber incident response plan that adequately considers ransomware scenarios and practicing this plan with staff
• Educate your employees — Next , be sure to train your employees on how to prevent and respond to a ransomware attack . Give your staff these tips :
• Avoid opening or responding to emails from individuals or organizations you don ’ t know . If an email claims to be from a trusted source , be sure to verify their identity by double checking the address .
• Never click on suspicious links or pop-ups — whether they ’ re in an email or on a website . Similarly , avoid downloading attachments or software programs from unknown sources or locations .
• Only browse safe and secure websites on organizational devices . Refrain from using workplace devices for personal browsing .
• If you suspect a ransomware attack , contact your manager or the IT department immediately for further guidance .
For additional risk management guidance and insurance solutions , contact us at SpectrumInsGroup . com . +
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