LATEST INTELLIGENCE
FULL DISCLOSURE : RANSOMWARE EXPOSED
Ransomware is one of today ’ s most pervasive and dangerous cyberthreats . The latest ransomware attacks can quickly spread throughout a company , impairing user productivity and disrupting business for hours or even days .
Backups may be few and far between , meaning that once data on endpoints and servers is encrypted and held for ransom , organisations are forced to choose between losing important data forever or forking over Bitcoin to – hopefully – get their data back .
The 2017 WannaCry attack infected over 300,000 computers in over 150 countries , wreaking havoc on organisations like Britain ’ s National Health Service ( NHS ), which was forced to close critical healthcare facilities , cancel surgeries and turn away patients for several days . Research firm Cybersecurity Ventures predicts that the annual global cost of ransomware to businesses will top US $ 20 billion in 2021 .
Ransomware has become a preferred means of extortion by opportunistic attackers for two key reasons . First , many organisations fail to practice good hygiene when it comes to backup and recovery .
Second , many organisations rely on traditional anti-virus solutions , which are often not effective in blocking ransomware . These solutions work by maintaining an inventory of known malware and blocking future executions of that malware . Because ransomware files slightly morph with each new version , and new versions are created by the minute , traditional anti-virus solutions have little realistic chance of preventing an infection .
This paper documents research conducted by CyberArk Labs to investigate ransomware and learn which potential mitigation strategies could be most effective . p
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