Ransomware is malicious software used to gain access to computer systems. Hackers hold encrypted files and data hostage, demanding a ransom in return. Ransomware attacks increase in sophistication and exploits system vulnerabilities of individuals and enterprises. The main motivation behind these cyber attacks is financial gain. Paying the ransom could equate to a loss of valuable funds for your business.
The importance of network security in protecting data cannot be overstated. But there is hope! Robust security measures can prevent, detect, and respond to these cybersecurity threats. Effective types of network security practices include:
- Firewalls
- Intrusion prevention systems (IPS)
- Intrusion detection systems (IDS)
- Software updates
- Security awareness training
- Data backup strategies
Businesses can reduce the risk of encryption ransomware attacks by implementing these measures. They can also cut the potential damage caused by such incidents.
Statistics underline the gravity of the encryption ransomware threat. Ransomware attacks have increased in the past few years. Cyber criminals now target healthcare, finance, education and government agencies. The financial toll of these attacks is staggering. global losses estimated to reach billions of dollars each year.
The year 2021 saw a staggering surge in ransomware attacks worldwide. There were 623.3 million incidents—an alarming spike of 105% compared to the figures of 2020. Furthermore, the average ransom payment in 2021 was $570,000, an 82% increase from 2020’s average of $312,00.
These statistics shed light on the severity of the consequences of ransomware cyber threats. Individuals, organizations, and governments must make network security priority number one. Vigilant cybersecurity measures can effectively combat this persistent menace.
The Top 5 Ways Ransomware Infects Corporate Networks
Understanding the top 5 tactics used by cyber criminals can protect against ransomware. Knowing these methods can provide effective defense strategies to safeguard systems and data.
Phishing
Phishing attacks deceive users with fraudulent emails or text messages. Their goal: trick unsuspecting users and employees into infecting their own devices. These attacks often impersonate trusted entities, such as banks or well-known companies. But clicking links in these messages may download malicious software.
Clicking links in fraudulent messages will download malicious software onto your device. This software can lock down your system, holding sensitive information hostage. These criminals often impersonate trusted entities, such as banks or well-known companies.
Security awareness training plays a vital role in detecting and preventing phishing attempts. An effective training program will teach participants to:
- Identify suspicious emails
- Check URLs for authenticity
- Avoid suspicious links
- Avoid downloading attachments from unknown sources
Compromised Websites
Cyber criminals use compromised or imposter websites to spread ransomware infections. These websites may appear legitimate. But they host malicious code that infects visitors’ devices. Balancing website restrictions and employee awareness is crucial.
Reduce risk by restricting access to dangerous websites, and using web filtering tools. Empower employees by educating them on the importance of
- verifying website authenticity
- recognizing warning signs
- refraining from downloading content from untrusted sources.
Unsecured Endpoints
Remote workers increase the need for endpoint security. Unsecured endpoints, like personal devices and unpatched workstations create weak points in security. Because remote devices challenge security protecting them from ransomware attacks is essential. Encourage employees to use virtual private networks (VPNs) to establish secure connections. Mandatory antivirus software, EDR, and regular system updates can reduce attacks.
Weak Credentials
Weak passwords pose a significant risk to network security. Cyber criminals often use brute-force attacks to gain unauthorized access to systems. Stolen credentials can also be an entry point. Implementing strong password policies is vital, including requirements for complex and unique passwords. Strong credentials are important for email security as well. Multi-factor authentication (MFA) verifies users through multiple means. For example, requiring a password and a temporary code sent to an email or device adds a layer of security.
Software Vulnerability
Hackers exploit software vulnerabilities to gain unauthorized access to systems and install ransomware. Applying software patches and updates promptly helps stay ahead of these threats. Establishing a patch management processes ensures timely updates across all systems and devices. Proactive vulnerability assessments and penetration testing can also identifies and addresses potential weaknesses.
Protecting against the top five ransomware attacks requires a multi-faceted approach. Proactive measures combine technical safeguards with employee education. Raise awareness about phishing attacks and focus on network security to safeguard sensitive data.
Guard against data breaches with EVERNET’s network security solutions. Our advanced security measures and encryption protocols shields sensitive data.
Rest easy with EVERNET’s cutting-edge security solutions. Don’t compromise on network security – choose EVERNET for reliable and comprehensive protection.
EVERNET’s dedicated team works to find a tailored cybersecurity product combination unique to your business. Fortify your systems and data with our expert guidance and 24/7 monitoring. Meet with our CEO and say goodbye to one-size-fits-all cybersecurity.
Eric is a Business IT cybersecurity advisor, consultant, manager, integrator, and protector who founded EVERNET in 2007. Eric co-hosts a podcast called “Finance and Technology Insights by Brian & Eric” on YouTube. Eric is a regular contributor to the EVERNET blog, writing about the latest technology news and providing his expertise in cyber security prevention and management. Meet with our CEO and say goodbye to one-size-fits-all IT support and cybersecurity.
