How Should We Handle Ransomware?

In the current digital age, one of the most pressing concerns is the exponential rising threat of ransomware attacks. These malicious attacks on organizations are usually designed to encrypt and exfiltrate valuable data. Hackers will choose to hold it hostage and demand a ransom for its release, and can also leak the data until additional ransom is paid. If your system does fall victim to a ransomware attack and you choose to pay the ransom, studies show that on average an organization only receives 65% of their data back, meaning that a successful ransomware attack will have a large impact on your organization.

The aftermath of these vicious ransomware attacks is oftentimes catastrophic, causing data loss, reputational damage, substantial financial burdens due to the ransom payment and the downtime the organization that was infiltrated with complex ransomware will experience. Unfortunately, no company is immune to ransomware; from small startups & large multinational corporations to government systems and healthcare organizations, any company is a potential target for hackers to try and breach your system so they can encrypt and exfiltrate your valuable data.

The Illusion of Absolute Ransomware Prevention

Many businesses operate under the misconception that total prevention of ransomware attacks is possible. The harsh reality, however, is that no combination of tools today can prevent 100% of all ransomware. Ransomware attacks are continually evolving and on the rise due to hackers employing increasingly sophisticated methods to infiltrate your system. The methods that hackers use include exploiting software vulnerabilities, SQL injection attacks, cross-site scripting (XSS), Denial of Service (Dos), session hijacking, credential reuse and intricate spear-phishing campaigns. Instead of leaning solely on prevention, organizations need a more comprehensive strategy to help mitigate the damages that can be caused by a ransomware attack. The best way to limit the damages to your organization and experience less downtime is by implementing a state-of-the-art ransomware containment solution.

Ransomware Containment: A Key to Business Continuity

Ransomware containment is a very sophisticated approach designed to limit the spread and impact of a ransomware attack once it has infiltrated your organization. By stopping the ransomware in its tracks, containment strategies halt the encryption and potential exfiltration of sensitive data, thereby minimizing disruption and potential losses that the organization could experience due to the downtime they’ll encounter while negotiating with hackers and getting their systems operating correctly again. 

The power of ransomware containment lies in its proactive nature. Business containment strategies are designed to spring into action the moment an intrusion is detected. This proactive solution was created to help your business quickly recover from a ransomware attack and experience limited disruption to daily business operations.

Navigating the Ransomware Landscape

While choosing to use an advanced ransomware containment solution is a significant step towards mitigating the losses of a ransomware attack, it is part of a larger set of measures needed to correctly handle ransomware. Here are some key tactics that businesses of all sizes should consider implementing to help set themselves up to be as prepared as they can in case of a ransomware attack:

Backup, Backup, Backup: Ensuring a robust backup system is in place is paramount. Regularly backup data and verify its integrity, keeping it off-site or securely in the cloud. This measure ensures that you can quickly restore your system once a ransomware attack has been contained.

Traditional Multi-Factor Authentication (MFA): MFA enhances ransomware prevention by requiring users to provide multiple forms of authentication, making it significantly harder for attackers to gain unauthorized access to sensitive systems or data. Many organizations use traditional MFA such as having a code sent to your phone, but there are also more advanced options available such as external hardware keys that can generate a cryptographically secure authentication code at the push of a button.

Employee Awareness: The human factor is often the weakest link in the world of cybersecurity. Conduct regular employee awareness training programs to educate your team about ransomware, how to identify phishing emails, and the importance of safe browsing habits. Also, train your team on what to do if they accidentally fall for a phishing scam or if they believe their system is compromised due to a ransomware attacker.

Behavior Analysis Tools: Behavior analysis tools often work in tandem with AI, machine learning, big data and analytics to identify unusual and often malicious behavior by comparing real time data to what an organization sees on a normal day. These tools are very beneficial because usually whenever a malware attack is happening, they cause the data seen in analytics to behave very differently than what an organization experiences on a normal day. 

Incident Response Plan: Develop a clear incident response plan that outlines how to handle a ransomware attack. A well written incident response plan will include designating key roles, setting up communication protocols, and laying out guidelines for system restoration. Having a well thought out incident response plan will help your organization get back to normal as quickly as possible because everyone is working together to mitigate the losses experienced during a ransomware attack.

Endpoint Detection and Response (EDR): EDR can help an organization see endpoint attacks in real time. EDR can accomplish this by capturing endpoint activity and using analytics to show your organization the health of all endpoints. EDR can also detect abnormal activity, alert your team to events happening and provide suggestions on how to remedy or stop the attack. 

Ransomware Containment Solution: Lastly, invest in a dependable ransomware containment solution. The ransomware containment solution you choose should be capable of identifying a ransomware attack in real-time and effectively isolating affected systems, devices and users, preventing further spread of malware. The quicker the ransomware is found and isolated, the quicker you can put your incident response plan into action, helping to get your systems up and running again with very minimal downtime.

Learn More

BullWall offers a ransomware assessment pentest to help you assess how your current tools respond to various ransomware variants. Or you can schedule a demo.