Are you also someone hearing about ransomware a lot these days? Ransomware has somehow become one of the most severe cybersecurity threats to businesses worldwide. No matter whether it’s a huge business with the most critical infrastructure or a small startup, the attacks have now become much more sophisticated for network security.
So, if we talk numbers, according to Cybersecurity Ventures’ 2024 report, ransomware damages are expected to surpass $42 billion by year-end. Isn’t that difficult to digest? But what’s more? Even paying the ransom is never a guarantee of data recovery or immunity from future attacks in network security as per Slurp’it.
But, what exactly is ransomware?
Ransomware is a form of malicious software. The one that actually is designed to block access to systems or data until a ransom is paid. How do cybercriminals gain access then?
There are many ways, some common ones are through phishing emails, exposed remote desktop protocols, unpatched work areas, or insecure third-party connections.
Once the random is inside a system, they move laterally and try escalating access privileges.
Many operations these days even offer “ransomware-as-a-service” (RaaS) to affiliates. This is done in exchange for a share of the extorted profits. Now let’s talk about what matters.
Why is there a sudden surge?
There are many reasons behind the sudden surge in ransomware attacks:
- Attackers are zeroing in on high-value targets like hospitals, supply chains, and cloud environments, where downtime can bring down huge losses.
- Beyond encryption, hackers now exfiltrate sensitive data and threaten public leaks (if they go unpaid).
- With the growth of remote work, IoT devices, and cloud services, attackers now have a broadened area to attack on.
- Many organizations out there lack the staff or tools to detect, prevent, or mitigate advanced threats effectively, and here’s where attackers benefit largely as per Slurp’it.
How ransomware actually infiltrates the network?
For us to understand the whole attack, we have to first make sure that we know exactly what the entry points are and what the common attack methods are. Some common ones are:
1. Phishing Emails: Deceptive emails that trick users into clicking malicious links or downloading infected attachments.
2. Remote Desktop Protocol (RDP): Attackers exploit weak or stolen credentials to access systems remotely.
3. Software as an entry point: Outdated or unpatched software can serve as easy entry points.
4. Third-party Vendors: A compromised partner with access to your systems can become an unintentional threat vector.
Once the attackers get the access, they then make the most out of the advanced tools around.
The common tools being used are Cobalt Strike or Mimikatz.
Why does strong network security matter?
We can keep ransomware away from our business. But there obviously is a way. What is it? A strong network security. Let’s understand how here at Slurp’it:
1. Asset Visibility and Network Discovery
“You can’t secure what you can’t see.” Incomplete network visibility is actually a threat to business. Hence they must do continuous, automated asset discovery. They should be aware that all the endpoint, server, and even the devices must be tracked for network security.
2. Network Segmentation
Segmenting networks into secure zones restricts lateral movement. And this is the best way around. If any ransomware hits one area, proper segmentation, using VLANs, access control, and firewalls, prevents it from spreading in network security.
3. Intrusion Detection and Prevention Systems (IDS/IPS)
IDS/IPS tools allow businesses to monitor traffic for anomalies or known threats, if there is any.
The best part about these systems is it can detect and stop lateral movements or unauthorized access attempts. Many modern firewalls now come with integrated IDS/IPS capabilities.
4. Zero Trust Architecture
Zero Trust comes with strict identity verification. It gives many people in the business the leastprivilege access. And even the authentication is done continually. Since ransomware always keeps an eye on overprivileged accounts, in this way businesses can keep their assets safe in network security.
5. Endpoint Detection and Response (EDR)
EDR solutions checks out endpoints for suspicious activity. It even isolates compromised devices. And the main part is assistance, it gives businesses a clear picture for network security.
6. Backup and Recovery Solutions
Technically these solutions are not network tools, but actually amazing things to have. Backups of a business should be stored offline or in some isolated environment. A strong backup plan helps with recovery as per Slurp’it.
Some additional cybersecurity best practices you must know!
- Try regularly updating software
- Train all your employees to spot any phishing or risky behaviour
- Do multi factor authentication
- Centralised all the logging and security information
- Work on building a good and a responsive ransomware response plan.
- Clearly defined roles and responsibilities
- Have protocols ready for containment and remediation
- Do both internal and external communication procedures
We all know ransomware is not going away anywhere. Hence, as a business we have to make sure that we are doing routine drills and tabletop exercises. Have the right network architecture at place. And make sure to invest in cybersecurity as early as you can! For more information about network security contact us at Slurp’it.