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Ransomware Attacks- Micro Actions to Macro Impact

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A significant increase in ransomware attacks recorded globally during the first six months of 2021 caused by extortion is predicted to expand further. The outpouring attacks fuel the rise of the “triple extortion,” a ransomware technique attackers frequently used.

Ransomware is malware that grips your data and privacy hostage for money. Indeed, your minor actions will make a change in preventing ransomware attacks. Follow these steps carefully and see how being attentive can make a difference.

 

1.       Hackers will send a phishing message with malware in the form of a file attachment or link

 

a.       Think before you click! When you receive an unanticipated email or a message, be suspicious. Please don’t get too excited opening it. First, if you know the sender, verify it. You can do that in many ways, such as calling the sender or sending a chat confirming if it is legit. Second, If it is from a service or a website, it is best to go directly to the official page.

 

 

2.       After you click the link or opening the file, the malware uses security flaws in your computer to lock your data with a key that, of course, you don’t have.

 

 

b.       Don’t panic! Instantly apply updates. When you do this, your computer is not compatible with the cyber criminals’ toolkits. The malware will not work. That is why you must choose the right IT managed service provider to give you network update options.

 

 

3.       Hackers will offer you a key to reaccess your data in return for a ransom.

 

c.       You don’t have to worry about paying the culprits when you have a good backup solution for your data. A good backup protects you against data loss. It is not only applicable to cyber crooks but also unforeseen situations such as floods, fire, and computer damage. 

 

 

Ransomware has become a traditional instrument for all cybercriminals to earn instant money. Moreover, they routinely attack individuals and organizations. Under such conditions, their victims experience financial damage either by keeping up to large ransomware payouts or by bearing the price of recovering from attacks.

Enormous Demands, Failed Transactions

 

In April of 2021, ransomware hackers broke into Apple‘s network and demanded a $50 million ransom. Apple didn’t pay up, though – good for them. On the other hand. Computer manufacturer Acer also got hit by a $50 million demand, but they chose not to pay like Apple.

 

To Pay or Not to Pay, That is the question.

Today’s organizations live and breathe data, which is why ransomware victims are motivated to pay. One may think that as a result of paying the ransom, the issue will disappear. However, this will not always be the case. In fact, reports have shown that half of the ransomware victims who pay the ransom never get their data back. Here are the top three reasons why experts advise both individuals and organizations never to pay the ransom:

  1. There’s no guarantee that all your data will be decrypted. It could only be partially recovered, or worst not at all.
  2. You will never find out if your data has already been sold on the dark web.
  3. This practice leads to future attacks, and this is why ransomware attacks still work.

In addition, if you’re a US-based company, paying the ransom might also get you in trouble with the federal government. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an advisory indicating that paying ransoms may be unlawful in certain situations on October 1st, 2020. All entities that pay could break the OFAC legislation and thereby be subject to investigation and stiff penalties, regardless of whether the victim or a third party (such as a cyber insurance company) arranged the payment.

For this reason, it’s better to invest the money you would spend on ransomware payouts in your cybersecurity and prevent an attack instead of mitigating it. Affinity Technology Protection can help you with that.

 

 

 

 

 

 

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