Ransomware Attacks Are Evolving. Your Security Strategy Should, Too
Defense against ransomware will involve zero trust, according to Daniel Spicer, CSO at Ivanti. Ransomware attacks
It will only get worse. That Ransomware is a growing problem for all organizations. What started as a floppy disk attack with a $ 189 ransom note has grown from a minor inconvenience. To organizations into a multibillion-dollar cybercrime industry.
The organizational threat from these types of attacks goes far beyond the encryption of sensitive or critical data. So for many organizations. The idea of a breach and publicly available data on the internet makes a high ransom seem like it is. worth it. No wonder ransomware is on the rise. Organizations pay an average of $ 220,298 and experience 23 days of downtime following an attack.
Ransomware costs more than just data access
which organizations stand to lose. The rise in ransomware attacks reflects it.
basic business operations but at the same time creates nuisance and obstruction. Threat to customers is increasing.
This analysis into ransomware attacks using the CIA Triad security model perspective is also affected. Because such attacks cause effects like decreased data availability. but most of the time result in losses in data confidentiality and integrity.
Indeed, many attacks are accompanied by data exfiltration. Exposing this data can significantly damage a company’s overall reputation. and ultimately cause it to lose key revenue streams to its competitors.
Unfortunately, that means more businesses are willing to pay to protect themselves. Then cybercriminals are finding new ways to take advantage of area opportunities.
That being said, although paying hackers for decryption keys. Ensures nothing by itself about the security of your organization. Then The Hackers can sell the accessed data on the dark web.
For example, ransomware gangs Netwalker and Mespinoza published the data taken from companies. That paid them for keeping. It is not disclosing, as reported in Coveware’s Q3 2020 ransomware report.
Thus, ransomware, a strong defensive strategy requires constantly updated methods for detecting, preventing, and responding to threats.
Staying one step ahead of bad actors is a challenge
Modern ransomware attacks typically involve some combination of strategies from one of the following categories: social engineering, email phishing, malicious email links, or the use of unpatched software vulnerabilities for access into environments and malware deployment. In effect, no days off exist for good cyber hygiene.
However, there is another challenge too: As an organization’s defense strategies against common threats and attack methods improve, the wrongdoers will change their approach to finding a new point of vulnerability. Thus, threat detection and response require real-time monitoring of various channels and networks, which can feel like a never-ending game of punching.
So how can organizations make sure they stay one step ahead if they don’t know where the next attack will target? Finally, the way forward is having organizations embrace a multi-layered security approach with an equal prevalence of prevention, detection of threats, and remediation techniques while starting with a zero-trust security approach.
Zero-Trust Security for Ransomware Protection
Starting zero-trust security requires an operational framework and a set of key technologies designed for modern businesses to better secure their digital assets, but it also requires that organizations verify each asset and each transaction before allowing any access to the network.
It achieves such by ensuring the patching of systems and keeping them updated. Then enforcing passwordless MFA, and deploying UEM. So It is important to maintain hygiene at a device level with patch and vulnerability management as part of a much larger zero-trust strategy. Along with that, security teams can ensure all endpoints, edge devices, and data are discoverable, manageable, and secured through the applications of key hyper-automation technologies, including deep learning capabilities in real time.
In addition to implementing the technologies necessary to help detect and prevent threats, organizations should consider going further by participating in exercises to test their responses to ransomware attacks. Having a recovery plan in place can play a critical role in reducing the time it takes to assess the current threat and ultimately determine whether your organization will be forced to pay the ransom to recover its critical data and get its systems working again. Practice makes perfect, and it’s no different for an organization’s security strategy.
Predict the unpredictable
It’s impossible to predict what the next wave of ransomware threats will use as their next attack method. But that doesn’t mean organizations can’t prepare for these challenges. By implementing a zero-trust security strategy. Organizations are positioning to keep tabs on all connected devices and networks. Then detect and respond to threats in real-time, and thwart potential attacks. before they harm function and performance. the overall reputation of the organization. The ransom gangs have grown up, and cyber hygiene has never been more important.
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