What is Ransomware?
Ransomware represents a malicious form of software designed to hold computer systems or files hostage until a ransom is paid.
It typically infiltrates systems through phishing emails containing harmful attachments or links, exploiting vulnerabilities in software, or via compromised websites. Ransomware uses powerful encryption methods to lock down files on a victim’s machine, making them unreadable without the attackers’ decryption key. Critical system elements, like Windows’ Master File Table, are often subject to this encryption procedure, which essentially prevents access to the entire system.
Following encryption, victims are presented with a ransom note detailing payment instructions, usually demanding cryptocurrency like Bitcoin, with promises of providing the decryption key upon payment. Even after payment, there’s no assurance that what was stolen will be recovered, and these attacks can have serious consequences, including data loss, monetary losses, and business interruptions.
Most Common Forms of Ransomware
- Crypto Ransomware: This type of ransomware encrypts the victim’s files, making them unreadable without the decryption key that the attackers withhold in return for a ransom.
- Locker Ransomware: Rather than encrypting files, locker ransomware completely locks the user out of the system. It displays a full-screen message that shuts down all system functions until the ransom is paid.
- Scareware: This kind of ransomware does not always lock files or systems. Rather, it shows warning messages stating that malware has been found on the victim’s computer and that payment is required to resolve the problem. Some scareware is only a scam, while more advanced versions may also have locking or encryption features.
- Doxware (or Leakware): If the ransom is not paid, this type of ransomware threatens to post the victim’s private information online. It combines the methods of data breaches and ransomware to increase the pressure on victims to comply with demands.
- Ransomware-as-a-Service (RaaS): According to this model, ransomware creators sell or lease their malware to affiliates, who subsequently spread it around. While affiliates handle distribution and victim targeting, the developers keep a portion of the ransom payments.
How Do Cybercriminals Spread Ransomware?
The topmost common methods of how cybercriminals spread ransomware include:
- Phishing Emails: These emails trick recipients into clicking malicious links or downloading infected attachments, often appearing to come from trusted sources to be more convincing.
- Malicious Attachments and Links: Apart from phishing, cybercriminals use other forms of communication, like instant messaging or social media, to distribute malicious attachments or links that install ransomware when clicked.
- Exploit Kits: Automated tools that scan for vulnerabilities in software and exploit them to deliver ransomware. These kits are often hosted on compromised or malicious websites.
- Remote Desktop Protocol (RDP) Attacks: Cybercriminals exploit weak or stolen RDP credentials to gain access to systems and manually install ransomware.
- Drive-by Downloads: Visiting a compromised or malicious website can trigger a download of ransomware without the victim’s knowledge, exploiting vulnerabilities in web browsers or plugins.
Stay Safe From Ransomware Attacks Through These Methods
- Make regular backups of important data and store them offline or in a secure cloud service. Make sure backups are isolated from the primary network to avoid ransomware infection.
- Update your OS, software, and apps with the newest patches and updates to address security flaws that ransomware can take advantage of.
- Install and maintain up-to-date reliable antivirus and anti-malware software. Scan your system often to find and get rid of dangerous software.
- Employ firewalls to stop unauthorised users from accessing your network and to stop malware from contacting its command-and-control sites.
- To stop ransomware-containing phishing emails and attachments, use email filtering services. Suspicious emails must be avoided, especially if they contain attachments or links.
- Make use of complex passwords and remember to change them frequently. Enable MFA to give accounts an additional layer of security.
- Reduce the potential damage in the event that a user account is hacked by ensuring that users only utilise the lowest level of privileges necessary and by prohibiting the usage of administrative authorisation.
How can iZOOlogic help my Company or Organisation?
Find out how iZOOlogic can protect you against the threats of ransomware with the Financial Malware/Trojan Monitoring solutions.
To find out more about how iZOOlogic can help protect your company’s cyber security, schedule a demo.