Insight
Friday, 26 April 2024
Imagine waking up to find your data locked away, with hackers demanding millions to unlock it!
In 2023, ransomware attacks skyrocketed by over 55%, impacting more than 5.000 victims globally. This alarming trend shows no signs of slowing down, making 2024 a critical year to understand the nasty evolution of ransomware.
Key Takeaways
So, what's fueling this nasty evolution of ransomware in 2024?
With the declining success rate of ransom payments, hackers are forced to adapt. This has led to a focus on more modern of ransomware attacks, smarter targeting, and even exploiting new technologies to maximize their impact and profitability. Ransomware isn't going anywhere, and it will only get worse in 2024.
Here's a breakdown of how these attacks are escalating!
Hackers are now adopting a “triple threat” approach:
RaaS (Ransomware as a Service) is another worrying trend. Just like any other software service, RaaS platforms offer easy-to-use ransomware tools to anyone with an internet connection, even those with limited technical expertise. This means more cybercriminals can enter the game, increasing the volume and diversity of attacks.
Hackers are increasingly targeting vulnerabilities in the software supply chain. By compromising a widely used software program, attackers can gain access to a vast network of users, creating a single point of failure that can cripple multiple businesses simultaneously.
Ransomware no longer only targets large corporations. In 2024, we can expect to see a rise in attacks targeting smaller businesses, hospitals, and even home users. Hackers understand that everyone relies on their data, so unfortunately no one is immune to ransomware.
The good news is, even with the evolution of ransomware, there are steps you can take to protect yourself!
Here are some best practices for ransomware protection to consider:
Implement a robust backup strategy with the 3-2-1 rule: maintain 3 copies of your data, on 2 different storage media (one local, one offsite), with at least 1 copy offline and air-gapped (not connected to the network). Regularly test your backups to ensure they are functional and complete.
Ransomware often exploits known vulnerabilities in software. Don't let outdated software create vulnerabilities. Regularly patch your operating systems, applications, and firmware to address security holes exploited by ransomware.
Complex, unique passwords and MFA make it much harder for attackers to gain access to your systems. Avoid using the same password for multiple accounts and consider a password manager to help you keep track of strong, unique credentials.
Protect against ransomware by educating users to follow cybersecurity best practices, including recognizing phishing attempts, practicing safe browsing habits, and reporting suspicious activity. Consider offering cybersecurity training and certifications like CompTIA Security+ or even a more advanced option like the Certified Ethical Hacker (CEH®) certification to enhance your IT team's capabilities.
Keep yourself updated on the latest ransomware threats and trends. Reliable sources include cybersecurity blogs, reputable news outlets, and security advisories from trusted vendors.
By following these best practices and remaining vigilant, you can significantly improve your defenses against the nasty evolution of ransomware. Remember, prevention is always better than cure, so contact us for further information about Multimatics’ Cybersecurity training, certification, and consultancy.
Dropsuite. (2023). The Evolution of Ransomware | Dropsuite.
https://dropsuite.com/articles/the-evolution-of-ransomware-and-how-to-protect-yourself/
Goldberg, C. (2020). Stop Ransomware in its Tracks with Strong Data Security.
https://cpl.thalesgroup.com/blog/encryption/stop-ransomware-in-its-tracks
Team, E. (2024). Ransomware Attacks: Complete 2024 Guide | Embroker. Embroker.
https://www.embroker.com/blog/ransomware-attacks/