What is Ransomware and How to Protect Yourself From It
Ransomware is a type of malware that encrypts files and documents on a single PC or an entire network, including servers. It is one of the biggest cybersecurity problems on the internet and one of the biggest forms of cybercrime that organizations face today. Ransomware is a form of cryptovirological malware that threatens to publish the victim's personal data or permanently block access to it unless a ransom is paid[1]. The attacker demands a ransom from the victim to restore access to the data upon payment[4]. Ransomware is a headache for companies of all sizes if vital files and documents, networks, or servers are suddenly encrypted and inaccessible.
History of Ransomware
The first documented occurrence of ransomware can be traced back to the AIDS Trojan horse virus in 1989. The AIDS Trojan was created by a Harvard-trained biologist named Joseph Popp, who distributed 20,000 infected floppy disks labeled "AIDS Information -- Introductory Diskette" to acquired immunodeficiency syndrome researchers at the World Health Organization's international AIDS conference[6]. Aside from Popp's 1989 virus, ransomware was relatively rare until the mid-2000s, when attackers used more sophisticated encryption to extort their victims[6].
How Ransomware Works
Ransomware is a form of malware that encrypts a victim's files, rendering them inaccessible and unusable until the ransom is paid[6]. Some ransomware infections start with someone inside an organization clicking on what looks like an innocent attachment that, when opened, downloads the malicious payload and encrypts the network[2]. Ransomware can be transmitted through various methods, including email attachments, malicious links, and software vulnerabilities[5]. Once the ransomware infects a system, it encrypts the files and demands a ransom payment in exchange for the decryption key[5].
Types of Ransomware
There are two main categories of ransomware: locker ransomware and crypto ransomware[5]. Locker ransomware locks the victim out of their device or system, while crypto ransomware encrypts the victim's files[5]. Some particularly sophisticated malware will detect the country where the infected computer is running and adjust the ransom to match that nation's economy, demanding more from companies in rich countries and less from those in poor regions[4].
Examples of Ransomware
While ransomware has technically been around since the '90s, it's only taken off in the past five years or so, largely because of the availability of untraceable payment methods like Bitcoin[4]. Some of the worst offenders have been CryptoLocker, a 2013 attack that launched the modern ransomware age and infected up to 500,000 machines at its height, and TeslaCrypt, which targeted gaming files and saw constant updates to its code to make it harder to detect[4]. Other examples of ransomware include GPcode4, an encryption Trojan, which initially spread via an email attachment purporting to be a job application, and WannaCry, which spread rapidly in 2017 and affected hundreds of thousands of computers worldwide[1].
Here are some of the consequences of a ransomware attack:
Consequences for Individuals:
- Financial losses: Individuals may have to pay a ransom to regain access to their encrypted files, which can be a significant financial burden[7].
- Personal data breaches: Ransomware attacks can result in the theft of personal data, including sensitive information such as social security numbers, credit card information, and medical records[7].
- Emotional stress: Victims of ransomware attacks may experience emotional stress due to the loss of important files and the violation of their privacy[7].
Consequences for Businesses:
- Financial losses: Ransomware attacks can result in significant financial losses for businesses, including the cost of paying the ransom, lost revenue due to downtime, and the cost of remediation[2].
- Operational downtime: Ransomware attacks can cause businesses to shut down for days or weeks while they try to recover their data, resulting in lost productivity and revenue[8].
- Loss of reputation: Suffering a ransomware attack can adversely affect the reputation of a business, as customers may view a successful attack as an indication of weak security practices[7].
- Legal and regulatory implications: Depending on the attack and the data compromised, businesses may be required to report the incident to regulatory authorities and/or affected customers, and may also be subject to legal action if customers or employees suffer financial harm due to the attack[9].
Ransomware attacks can have significant legal consequences for both businesses and individuals.
Here are some of the legal implications of a ransomware attack:
For Individuals:
- Identity theft and fraud: If personal and financial information is compromised during a ransomware attack, individuals may be at risk of identity theft and fraud[10].
- Legal action: If individuals suffer financial harm due to a ransomware attack, they may be able to take legal action against the attacker or the affected business[10].
For Businesses:
- Reporting requirements: Depending on the attack and the data compromised, businesses may be required to report the incident to regulatory authorities and/or affected customers[1][11].
- Legal action: Businesses may be subject to legal action if customers or employees suffer financial harm due to the attack, leading to costly legal fees, settlements, and reputational damage[10][11].
- Compliance violations: Businesses may be subject to compliance violations if they fail to adequately protect customer data or fail to report a ransomware attack[11].
Individuals and businesses can take proactive measures to protect themselves from ransomware attacks. Here are some steps that can be taken:
For Individuals:
- Keep software up to date: Regularly update software and operating systems to ensure that they are protected against known vulnerabilities[13].
- Use strong passwords: Use strong, unique passwords for all accounts and enable two-factor authentication where possible[12].
- Avoid clicking on suspicious links or downloading attachments from unknown sources: Be cautious when opening emails or clicking on links, especially if they are from unknown sources[13].
- Back up important files regularly: Regularly back up important files to an external hard drive or cloud storage service[7].
- Use anti-malware programs: Use anti-malware programs, such as Windows Security, to scan your device for malware[13].
For Businesses:
- Train employees: Educate employees on how to recognize and avoid ransomware attacks, including how to identify phishing emails and suspicious links[12].
- Implement security measures: Implement security measures, such as firewalls, intrusion detection systems, and anti-malware software, to protect against ransomware attacks[12].
- Back up data regularly: Regularly back up important data to an external hard drive or cloud storage service[2].
- Use strong passwords: Use strong, unique passwords for all accounts and enable two-factor authentication where possible[12].
- Keep software up to date: Regularly update software and operating systems to ensure that they are protected against known vulnerabilities[13].
Individuals and businesses can use several programs to protect themselves from ransomware attacks. These programs include:
1. Bitdefender GravityZone Business Security Premium: This program provides multi-layered ransomware protection and is an excellent combination of endpoint protection and anti-ransomware. It has outstanding scores in independent lab tests and phishing protection tests[14].
2. Kaspersky Anti-Ransomware Tool: This program is capable of blocking both local and remote attempts to encrypt user data. It uses cloud-assisted behavior detection to block ransomware and crypto-malware immediately[15].
3. Malwarebytes Premium: This program actively blocks aggressive ransomware from taking over devices and demanding payment to get files. It fights threats that traditional antivirus protection can't stop and blocks zero-day ransomware attacks on Windows[16].
4. Avast Antivirus: This program offers one of the best free antivirus programs out there and includes all ransomware shields and tools. It has a powerful free version and an excellent user interface with customizable quick actions[17].
In addition to these programs, Trend Micro offers several solutions for ransomware protection, including OfficeScan, Worry-Free Business Security, and Deep Security. These solutions provide anti-malware practices and solutions to prevent ransomware from infecting networks and machines[15][16][17].
To use these programs, individuals and businesses should install them on their devices and keep them up to date. They should also follow best practices for ransomware prevention, such as keeping software up to date, using strong passwords, and avoiding suspicious links[14][15][16][17]. By using these programs and following best practices, individuals and businesses can minimize the risk of becoming a victim of a ransomware attack.
Citations:
[1] https://en.wikipedia.org/wiki/Ransomware
[2] https://www.law.umaryland.edu/content/articles/name-659577-en.html
[3] https://www.varonis.com/blog/a-brief-history-of-ransomware
[4] https://www.csoonline.com/article/563507/what-is-ransomware-how-it-works-and-how-to-remove-it.html
[5] https://www.kaspersky.com/resource-center/threats/ransomware
[6] https://www.techtarget.com/searchsecurity/definition/ransomware [7] https://infosecwriteups.com/impact-of-ransomware-attacks-on-businesses-and-individuals-cc6b35620887
[8] https://www.cm-alliance.com/cybersecurity-blog/how-will-a-ransomware-attack-affect-your-business
[9] https://www.linkedin.com/pulse/what-enduring-impacts-ransomware-your-business-jesse-dehaan
[10] https://www.linkedin.com/pulse/what-enduring-impacts-ransomware-your-business-jesse-dehaan
[11] https://www.dlapiper.com/en-us/insights/publications/2020/12/understanding-ransomware-stratagems
[12] https://www.crowdstrike.com/cybersecurity-101/ransomware/how-to-prevent-ransomware/
[13] https://support.microsoft.com/en-us/windows/protect-your-pc-from-ransomware-08ed68a7-939f-726c-7e84-a72ba92c01c3
[14] https://www.pcmag.com/picks/the-best-ransomware-protection-for-business
[15] https://success.trendmicro.com/dcx/s/solution/1099423-best-practices-in-preventing-ransomware-infection-using-officescan-osce-and-worry-free-business-se?language=en_US&sfdcIFrameOrigin=null
[16] https://success.trendmicro.com/dcx/s/solution/1114260-ransomware-detection-and-prevention-in-deep-security?language=en_US
[17] https://success.trendmicro.com/dcx/s/solution/1112168-best-practice-configuration-for-ransomware-prevention-in-worry-free-business-security-services-wfbs?language=en_US