What is Ransomware and How Do You Deal With It?

RansomwareAttacks has been taking up a lot of headline space over the past few years. It should not be surprising that these attacks are so costly and complex for businesses around the world, it shouldn’t surprise anyone.

This blog is intended to provide quick answers to common questions like “What is a Ransomware Attack?”, “What does ransomware do”, “What is ransomware protection?”, and “Is ransomware prevention possible?”

What is Ransomware Attack?

A ransomware infection is simply when malicious software infects your computer and blocks access to your files and data, until you pay a ransom. Phishing emails are one way that ransomware can get into your system. Your staff clicks on a malicious hyperlink or downloads a malicious file. That’s it.

Don’t confuse the simplicity of this attack with the method itself. Ransomware attacks are becoming increasingly complex, hard to detect, and extremely costly to remedy. Ransomware operators are exploiting vulnerabilities at an alarming rate – faster than security vendors or businesses can catch up.

Ransomware kits are being sold online on the Dark Web, a trend that you might have heard is called ‘Ransomware as A Service’. These kits contain malware that can be deployed quickly by less skilled attackers to earn monetary benefits.

Worryingly, Ransomware As A Service toolkits (RaaS), are being sold on the Dark Web just as aggressively than you would find legitimate services being sold on social media and other online channels. These toolkits are attractive because they offer discounts, customer support, bundle deals, and any other online marketing strategy you can think of to make them more appealing.

The RaaS model could be viewed as a darker and more malicious version of Software As A Service or SaaS.

This discussion was intended to show how simple it is for even mediocre hackers to launch a ransomware attack on your files, encrypt them and keep your sensitive data locked up until you pay a lot.

Cyber Management Alliance advises clients not to enter into negotiations with hackers and never to pay up. It’s simple: hackers know that if you pay them once, you will pay again.

It is crucial that you have removed all ransomware from your system after decrypting your files. The chances of being attacked again by hackers are high if they leave behind any residual malicious material. You can’t get away with not paying the second time if you have already paid the first time.

What does Ransomware do?

We’ve already answered the question briefly, but let’s now take a closer look at what happens to your business network when ransomware infects it.

Once malware has infected your system, it locks down files, databases, and computers. This is known as encryption. Your personal or sensitive data is encrypted by the malware so you can’t access them. Ransomware attackers will threaten to release your data online or lock it up until you pay a ransom.

Their releasing data online can cause irreparable reputational damage to your business. Your clients and business associates will be hesitant to do business with you again if they learn that your system has a security vulnerability.

Competitors may use the data to cause more damage to your company. It is possible to access sensitive information required for your business’ day-to-day operations if the data is encrypted. Losing access to your databases and systems can result in many lost days.

It is not a good situation no matter how you view it. Worst of all, ransomware hackers are often out to make quick buck. There is no guarantee that your data will be available to you after you pay the ransom.

What should you do if your computer is attacked? There are many ways to minimize the effects of a ransomware attacks but prevention is better than cure. However, in this instance, it is impossible to prevent ransomware attacks entirely. You can take preventive measures to increase your ransomware prepared so hackers don’t strike and cause as much damage to your company.

What is Ransomware Protection?

One of the most common questions in cybersecurity is “What is ransomware protection?”

Ransomware Protection is the deployment of technologies and tools that can prevent your organization from falling prey to a ransomware attack. Important steps include the deployment of a suitable security product or an antivirus solution under Ransomware Protection.

However, it is important to note that ransomware can be evaded by modern malware detection tools.

Ransomware is a serious threat to your security. You might consider purchasing ransomware protection products. You can often add a ransomware-specific add-on to existing security products.

Ransomware protection is essential, but often it is not sufficient. So what is the solution?

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