The subject of today’s panel discussion is “Ransomware Attack,” and Mr. Nasir explains what it is in actuality: “Most people think ransomware is some kind of virus and think ransomware has encrypted their system, but in reality, it is something else, ransomware is not just a virus it is human-operated and can be injected in your environment unlike viruses and is shown as a website and encrypts the documents or files.”
It occurs after the earlier phases are finished. For ransomware hackers, the earlier steps involve first breaking into your system, gaining access to your file system, and capturing data. They then copy this material and display it as a webpage to circumvent encryption.
Another kind of ransomware scam hack assault is that they demand money from you in order to unlock the encrypted file, hence the name “ransomware.” Another factor is double extortion when hackers threaten to broadcast your stolen data on public platforms if you don’t pay them the money they’ve asked, and businesses pay them right away out of concern for their reputation. Ransomware campaigns frequently use double extortion.
Mr. Umair shares his expertise on the matter, claiming that, “it is a contemporary method of extortion in the age of the internet. Ransomware essentially begins with system access that encrypts a file, which must be decrypted. You can compromise the system by downloading or viewing a file that contains ransomware. Email plays a significant role in ransomware attacks, whether it be fishing emails or regular emails with links that may be harmful and which the victim clicks on.”
Additionally, he added, one should be aware of information security and understand that an unfamiliar email link should not be viewed or downloaded. The strongest defense against ransomware assaults, other than technological tools, is awareness.
Mr. Faisal Baig underlines the need for ransomware chain knowledge, stating that “people are the weakest link in security. The more you train a human, the more mistakes they will make, but there is always a fix. Human awareness and education are crucial. Human awareness training is crucial in this situation since technology is intelligent enough to lure and fool a human mind into downloading a dangerous link. A human error or a lack of human training or awareness is to blame for about 87% of ransomware attacks in businesses.”
Tools that are deployed in advance as a preventative measure create a duplicate of the file in real-time if it is encrypted. If there is no backup and there are several assaults, the situation is at the attackers’ discretion, and you must pay to get your data back.
Antivirus software is a crucial component of basic security. They are able to defeat ransomware since no security system is 100% effective, therefore always maintain the greatest preventative measures.
Any company that experiences a ransomware assault will have a timely identification of the attack provided a detection strategy is in place. Give the detection system the same amount of consideration as the preventative system.
There should be managed in place to protect infrastructure. Should install the finest firewall, EDR, and virus protection and purchase security-enhancing technologies.
Given the way technology is developing, anyone can purchase a ransomware toolkit, create an attack, and there are even businesses that offer ransomware attack services. Attackers using ransomware are never behind.
There should be a general awareness campaign. Since mobile phones are the primary backdoors for these attacks and mobile apps raise the danger of attack, business sectors have mobile usage restrictions.
Because all of the credentials are included in the app, mobile applications are not secure and should not be relied upon to protect the company. You should also never download untrusted apps.
There is a presumption that “Linux melts like Windows server,” and the Linux companies were the targets of greater ransomware attacks with higher payments. 3000 Linux systems in South Asia were encrypted in 2019, with a $30 million payoff being one of the largest.
Lockbit is a company that sells and distributes ransomware. Recently, Lockbit introduced Bug Bounty, where they were collecting input and ideas to enhance their ransomware assaults and reward people.
They broke the news by announcing that Lockbit would give anyone $1 million if they could identify their engineers. The gap should be able to close via clarity, communication, and training.
To read our blog on “The crypto winter’s effects are being felt by ransomware gangs,” click here