Ransomware, also known as extortion software, has become an increasingly common method of attack targeting both businesses and individuals. The boom in ransomware attacks began around 2014 and has grown significantly every year since. This year, studies from the first quarter show a 25% increase in ransomware attacks affecting companies in Sweden.
In this article, we will discuss what ransomware is, how it works, and the steps that can be taken to protect yourself and your business.
What is Ransomware?
Ransomware is a type of malicious code used by attackers to lock a system or device. This is done by infiltrating the victim’s system and encrypting files or blocking access to the system. Once the system is locked, the victim is extorted for money in exchange for digital keys that can be used to unlock the files.
What many people don’t know is that a ransomware attack usually occurs long after the system has been infected. In most cases, the victim is first infected by a downloader, which spreads through emails, downloaded programs, websites, or interconnected systems of suppliers or subcontractors. Once the system is infected, the attacker decides what will happen next. Ransomware, one of the options, is often the final step.
How Does Ransomware Work?
After a computer is infected with ransomware, the malicious code takes over the screen and displays an image or message demanding that the user pay a specific amount of money to regain access to their files. Once the user pays the ransom, the attackers provide a decryption key that can be used to restore the files.
Unfortunately, there are no guarantees that you will receive the key after paying, or that the provided keys will even work. Additionally, it’s worth considering that once you’ve paid, you are regarded as a customer—and customers are often encouraged to return and buy again.
How to Protect Yourself Against Ransomware
Paying the ransom is not a sustainable long-term solution. Investing in expensive security solutions is also not a good option unless you already have a well-functioning basic security setup.
Larger companies should conduct various analyses to gain an overview of their entire network and its structure. This helps increase security where it is most effective.
For smaller companies, the security solution is somewhat simpler. Here, the primary focus should be 100% on your backup solution. The 3-2-1 rule is a well-established backup method. Simply put, it involves having three copies of the same data, two copies in different locations, and one copy in the cloud.
Also, try to imagine what you would do if your company were hit by a ransomware attack and your systems were locked. Creating a plan for how the recovery process should work is time well spent, as it reduces the downtime of your systems.
Use Updated Software and Systems
Another important measure is to ensure that all software and systems on your computer are up to date. This includes browsers, operating systems, and all other programs used regularly. Updates often contain security enhancements and patches for known vulnerabilities that ransomware attackers could exploit.
Use Security Software
It is also crucial to use reliable security software on your computer, including antivirus programs and firewalls. These programs can help detect and prevent ransomware or downloader infections. Make sure to keep your security software updated for the best possible protection.
Be Careful with Links and File Attachments
Ransomware is often spread through spam emails and fake links on websites. Be cautious about clicking on links or opening files from unknown sources. If something seems suspicious, refrain from opening it or verify the source to see if it is legitimate.
Educate Yourself and Others About Ransomware
An important step is to educate yourself and others about ransomware. It is a good idea to explain what the threats are, what can happen, and what to do or not do in daily work.
If the worst happens and you or your company falls victim to a ransomware attack, there is still a chance to restore the system without having to rely on a backup. Europol runs the “No More Ransom” project in collaboration with several security companies. Through the project’s website, users can upload encrypted files to check if the project’s database contains the necessary decryption keys.
