Mitigating the Risk of a Ransomware Attack is Critical

Ransomware is a dangerous type of malicious software that online extortionist gangs use to hit organizations of all sizes. Most ransomware strains work by either encrypting your critical files and folders or locking your systems and demanding a ransom. Ransomware gangs may also play on your anxiety by setting a time limit for the payment. 

Unfortunately, there’s no recovery guarantee even after paying the extortionists. Many gangs employ double extortion strategies by only decrypting half your data after payment and demanding more money. And some cybercriminals simply disappear after collecting the money without sharing the decryption key. To reduce the risk of a ransomware attack, you need to be proactive and adopt the right mitigation strategies:

1. Recognize Threat Vectors

It’s critical to recognize common ransomware attack threat vectors in order to develop the proper defense mechanisms:

• • Phishing expeditions: Phishing emails are fraudulent emails that can carry ransomware in attachments. Your staff should be trained to recognize such emails. Typically, they use social engineering tactics to trigger a response and often carry spelling and grammatical mistakes. 

• Remote desktop protocol (RDP): While RDP is pretty useful for many companies in the age of remote working, it’s also a common ransomware attack vector. Secure your RDP ports to minimize the risk of ransomware threats. 

• Malicious websites: The wrong website can infect company networks with ransomware through drive-by downloads or malvertising. To protect your organization, train employees to avoid visiting risky websites on company computers.

2. Use the Right Cloud Solutions Provider

A top cloud solutions provider offering secure workspace solutions can help protect your business from ransomware with a collection of services that shield your cloud environments through some of the following foundational security pillars:

• Malware protection
• Firewalls
• Multi-factor authentication
• Multi-tiered network segregation
• Password vault and access controls and reviews

With the right cloud-based services, you can also quickly restore data from backups, reducing downtime. 

3. Invest in Air-Gapped Backups

Besides cloud-based solutions, you should also consider investing in weekly air-gapped backups. These systems aren’t connected to the Internet or any network and can be pretty secure. Remember, ransomware gangs can take weeks inside your network, quietly spreading malware through lateral movements. Typically, they can’t attack air-gapped backups. 

4. Adopt the Right Password Culture

The Colonial Pipeline ransomware attack was devastating, impacting the gas supply chain, raising prices, and causing panic amongst local consumers. Investigators found that the source of the attack was a compromised password for a legacy Virtual Private Network (VPN) account. Unfortunately, this wasn’t the first time that hackers breached networks because of poor password protection protocols. Here are some tips that may help:

• Set long and sophisticated passwords that feature letters, numbers, and symbols.
• Regularly change passwords to prevent ransomware gangs from weaponizing old login credentials. 
• Take advantage of two-factor authentication to shield accounts from cybercriminals who have access to your usernames and passwords.

5. Secure Your Endpoints

Although remote working protocols can enhance physical safety in the age of the COVID-19 pandemic and can also boost productivity, they can expose your organization to security breaches. Minimize the risk of employee error by offering company devices armed with robust endpoint security solutions. 

These are five ways you can mitigate the risk of ransomware attacks. Adopt the right security solutions and invest in the best training options to harden your defenses.