The Rising Threat to All Businesses

Ransomware is a sneaky type of malware that targets your business data. These malicious programs either steal your data to sell or lock your files, making them unusable until you pay a ransom. This threat is constantly evolving and becoming more sophisticated.

Ransomware attacks are on the rise. Each year, more businesses are targeted, and the attacks are getting more severe. These cybercriminals don't just stop at your business—they also target your business partners to put extra pressure on you to pay up.

Ransomware Statistics

• The cost of recovery and the resulting downtime of a ransomware attack can be 10 to 15 times more than the ransom.

• In 2023, ransomware remains #1 for the most common method used by cybercriminals to carry out data breaches.

No Business Too Small to Target

Ransomware has become one of the most profitable forms of cybercrime. Unlike traditional data theft, where attackers sell stolen data, ransomware works by holding your business-critical data hostage. Even if the data isn't sensitive, its importance to your operations makes it valuable.

Here's how it works: attackers lock your files and demand a ransom for their release. This shift in tactics means they don't need to find buyers for stolen data. Instead, they exploit your need to access your own information.

This new approach has put many businesses, even those who thought they were too small to be targeted, directly in the sights of cybercriminals. It's a stark reminder that every organization needs to take cybersecurity seriously.

The Ransomware Attack Process

Ransomware attacks follow a series of stages, often unfolding in just a few minutes. Even seemingly harmless actions can turn your endpoint into a ransomware victim.

Phase 1: Initial Infection

In the initial stage of a ransomware attack, cybercriminals aim to infiltrate your network. They often gain access through password theft, brute force, software vulnerabilities, or phishing. Once inside, they seek out critical identities and login credentials to bypass traditional security measures.

Ransomware attacks commonly use different types of malware, either off-the-shelf or custom-made. These are often spread via spear-phishing emails with malicious attachments, like Office or PDF documents. When opened, these attachments can run their payload if macros are enabled, installing malware on the computer.

Ransomware can appear to come from trusted sources, including financial institutions or government entities. Attackers also exploit vulnerabilities in internet-exposed services, like Remote Desktop Protocol (RDP) and virtual private networks (VPNs). Some even use brute force to guess weak usernames and passwords. Most ransomware attacks employ multiple methods to infect systems.

Phase 2: Execution

Once inside your network, attackers use various tools to carry out their attack. They either bring malware with all necessary tools or download them after gaining access. This is done by communicating with a command and control (C2) server, often using trusted traffic like DNS.

The tools from the C2 server help attackers:

• Discover other endpoints on the network.

• Maintain persistence on devices.

• Obfuscate their activities to avoid detection.

By staying hidden and connected, attackers can continue their malicious activities without being noticed.

Once cybercriminals gain access to your network, they move laterally to find vulnerable privileged accounts. They use this access to dig deeper into your infrastructure, aiming for the most critical data by breaking through security layers and gaining more privileges.

One common tactic is exploiting administrator accounts. Often, organizations use the same password for all local admin accounts, making them prime targets. With admin privileges, attackers can disable security controls, avoid detection, and install malware on victim endpoints.

By accessing domain controllers, attackers can spread malware across the entire network in one go. They use various techniques to gain domain admin rights, such as Kerberoasting, pass-the-hash attacks, and stealing passwords from the SYSVOL folder.

Phase 3: Ransom Demand

In the final stage, ransomware has been downloaded and installed on the victim's system. Here's what happens next:

• Disabling Protection: The attacker disables the system’s critical protections.

• Data Exfiltration: The ransomware seeks to steal sensitive information from the endpoint.

• Destroying Backups: It destroys the organization’s backups to prevent recovery without paying the ransom.

• Encrypting Data: Finally, it encrypts systems and data, rendering them unusable. 

Victims then see ransom notes or lock screens with instructions on how to pay the ransom, usually in cryptocurrency. The demands often include a payment for decrypting the files and a second payment to prevent the attacker from leaking or selling the stolen data.

5 Ways to Defend Against A Ransomware Attack

1. Perform Frequent Backups: Regularly backup critical data, system images, and configurations. Ensure these backups are stored offsite and offline, making them inaccessible to attackers. Regularly test these backups to confirm their integrity and reliability.

2. Use Multi-Factor Authentication (MFA): Implement MFA to add an extra layer of security. Ensure strong passwords are set and managed through a password manager to prevent unauthorized access.

3. Raise Awareness Among Users: Educate your employees about the risks of phishing and social engineering. Awareness training is a key component of your cybersecurity strategy, helping prevent users from inadvertently compromising your network.

4. Patch Everything, Patch Early and Often: Keep all operating systems and software up to date. Ransomware attacks often exploit unpatched vulnerabilities, as seen with WannaCry and NotPetya. Regular patching reduces these risks significantly.

5. Monitor and Respond to Alerts: Consider advanced endpoint security solutions like Endpoint Detection and Response (EDR) with a zero-trust approach. These solutions provide multiple layers of defense and help you quickly detect and respond to threats.

Wrapping Up

Ransomware attacks are increasing every day and becoming more and more sophisticated. Sometimes, it can seem easier and cheaper to just pay the ransom than to prevent it from occurring. However, paying doesn't guarantee your files will be restored or your systems will be accessible, and your endpoint might still be infected. To stay safe, you need a comprehensive security solution that can respond to the latest threats.

Now is the time to secure your organization. We’re ready to take your business’s cybersecurity to the level that’s right for it.

Let’s start the conversation. Schedule a meeting with us before the next ransomware attack impacts you.