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PREDICTIVE INTELLIGENCE
How to fight back
against the rise of ransomware
While ransomware attacks are undeniably difficult to avoid , having an effective recovery strategy in place is a step in the right direction . Gijsbert Janssen Van Doorn , Technical Marketing Director at Zerto , tells us that creating a comprehensive cybersecurity and disaster recovery plan is now a ‘ must have ’ for any organisation focused on minimising the risks associated with ransomware .
ansomware has
R become one of the most dangerous and high-profile cybersecurity problems facing CISOs worldwide . While not a new concept , one of the major reasons behind its recent growth has been the ability of attackers to cripple the IT systems of their victims and extort huge sums of money from those desperate to recover – all with a relatively cheap and simple toolset .
A successful ransomware attack can bring normal operations to a standstill for days , weeks , or even permanently . Without the right mitigation and recovery strategy , efforts to get back to normal can become extremely time-consuming , labour-intensive and costly . And even if a business does recover its data , the damage can be severe and even existential in nature .
In June , for example , the University of California San Francisco reportedly paid nearly £ 1 million to hackers , following a ransomware attack that encrypted vital data .
And back in January , Travelex , a wellknown foreign currency business , was disrupted for a month as it grappled with the effects of a ransomware attack .
Numerous media outlets reported that Travelex eventually paid US $ 2.3 million to its attackers , with the incident subsequently contributing to major financial problems that forced the business into administration in August , with the loss of 1,300 jobs .
Criminal opportunism fuels ransomware risk
Currently , there is also the added dimension of COVID-19 , which has given opportunist cybercriminals another angle of attack . Indeed , the risks of pandemic-themed incidents became so acute that in early April , UK and US security agencies took the unusual step of issuing a joint COVID-19 cyberthreat update .
In the advisory statement , the UK ’ s National Cyber Security Centre ( NCSC ) and US Department of Homeland Security ( DHS ) Cybersecurity and Infrastructure Agency ( CISA ) warned of the dangers of COVID-19 email scams and the increasing possibility of cybercriminals targeting people working from home . www . intelligentciso . com | Issue 30
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