5 Ways to Protect Your Small Business from Ransomware

Ransomware is a type of malware that encrypts a victim’s files and demands a ransom payment in order to decrypt them. Ransomware attacks have been on the rise in recent years, and SMEs are particularly vulnerable.

There are a number of reasons why SMEs are more likely to be targeted by ransomware attacks. First, SMEs often have less robust cybersecurity measures in place than larger businesses. Second, SMEs may be more likely to fall for phishing scams, which are a common way that ransomware is spread. Third, SMEs may be more likely to have sensitive data that is valuable to cybercriminals, such as customer data or financial information.

The impact of a ransomware attack can be devastating for an SME. In addition to the cost of the ransom payment, businesses may also experience lost productivity, damage to their reputation, and even legal liability.

There are a number of steps that SMEs can take to protect themselves from ransomware attacks. These include:

Investing in robust cybersecurity measures, such as firewalls, antivirus software, and employee training.
Being aware of phishing scams and how to avoid them.
Backing up data regularly so that it can be restored in the event of an attack.
Having a disaster recovery plan in place.

By taking these steps, SMEs can help to protect themselves from the growing threat of ransomware.

Here are some additional tips for SMEs to protect themselves from ransomware:

Use strong passwords and change them regularly.
Keep your software up to date.
Use a firewall to protect your network from unauthorized access.
Be careful about what emails you open and attachments you click on.
Install antivirus software and keep it up to date.
Back up your data regularly.
Have a disaster recovery plan in place.

By following these tips, SMEs can help to reduce their risk of being the victim of a ransomware attack.

Here are some additional synonyms for ransomware:

Crypto-malware
Cryptolocker
Cryptowall
Locky
Petya
WannaCry

These are just a few of the many different types of ransomware that are out there. It is important to be aware of these threats and to take steps to protect your business. Remember, prevention is always better than cure, and taking proactive measures to protect your business from ransomware attacks can save you time, money, and reputation damage in the long run.

Ransomware Gang Claims Fortune 500 Company Hired Them to Hack the Competition | Motherboard

Ransomware—computer viruses that lock a victim’s files and demand a payment to get them back—has become so common that experts believe it’s now an “epidemic.”

Security experts have always assumed that ransomware hackers are in it for the ransom. But a shocking claim made by one ransomware agent suggests there may be another motive: corporate sabotage.

In an exchange with a security researcher pretending to be a victim, one ransomware agent claimed they were working for a Fortune 500 company.

“We are hired by [a] corporation to cyber disrupt day-to-day business of their competition,” the customer support agent of a ransomware known as Jigsaw said, according to a new report by security firm F-Secure.

Ransomware Gang Claims Fortune 500 Company Hired Them to Hack the Competition

Source: Ransomware Gang Claims Fortune 500 Company Hired Them to Hack the Competition | Motherboard

Is Extortionware the Next Big Threat?

By Stu Sjouwerman, for KnowBe4.com Security Awareness Training

TK Keanini, CTO, Lancope wrote a 2015 Predictions editorial over at SC Magazine. He said he expects more malware like CryptoLocker and CryptoWall over the next 12 months, but also something new called “extortionware”.

I wholeheartedly agree what he said: “Ransomware remains profitable, and cybercriminals are always looking for areas to grow their business. To date, victims have mainly been individuals with data from their computers or smartphones being held for ransom. But the one industry at great risk here is health care. Three factors make it a highly attractive target for ransomware expansion in 2015 – the mandate to move to electronic records, the sensitive nature of health care data, and the immaturity of the information security practices that exist in the health care industry today. This is a scary notion because we rely so heavily on the availability and accuracy of patient records. The cost of a compromise could range from an inconvenience to loss of life.”

But then he predicts something else for 2015 and that I do not agree with so much: “Extortionware is an expansion on ransomware whereby unless you pay a certain amount to the attacker, the data will be made public for all to see (or for more targeted disclosure). What if the data contains evidence of infidelity, for example? The list of possible incriminating data goes on and on, but you can see how this differs from ransomware. Much like spear phishing, this attack will be much more targeted, but attackers will yield a higher take per victim, and those victims are less likely to involve law enforcement due to the sensitive nature of the data.

Is this very likely? Article continued here.