Ransomware. It's a very hot topic in today's current affairs and with cyberattacks on the rise, network security is the number one issue on IT Exec's minds. In this 3 part blog series, we will present the three types of network vulnerabilities: Hardware, Software, and Humans. With each type, we will discuss what makes a network vulnerable, how it can be breached, how to prevent it, and what to do if a data breach occurs.
A ransomware attack is estimated to occur every 11 seconds. Last year, the largest ransom ever paid (40 million dollars!) was issued by an insurance agency. Data breaches are occurring at a rate never seen before, and all this malicious activity is being monetized and turned into a business. Faced with these problems that are only getting worse, how do we maintain a secure environment and protect our assets?
The Increasing Threat of Ransomware
United States Authorities reported that ransomware payments of approximately $590 million were made during the first six months of 2021, a significant increase compared to the $416 million reported for the whole year of 2020. With the alarming increase of complexity and volume of attacks, the US department of Homeland Security confirmed that ransomware is a major threat to national security. 2022 will see both an increase in the number of ransomware attacks along with more avenues being exploited to inflict an attack. Ransomware-as-a-Service kits are now being bought and leveraged by unexperienced cybercriminals to deploy undetectable attacks across multiple paths.