Cyber risks are continuously on the rise in today’s interconnected digital world, and ransomware attacks have become a serious concern for businesses around the globe. Recent reports indicate a trend that is alarming: new ransomware groups have increased significantly, with a sharp increase in attacking Microsoft hardware and software.
This blog post will describe ransomware, its effects on businesses, why Microsoft products are such attractive targets, and ways to minimize the risk of being victims of pure ransomware attacks.
Understanding Ransomware and Its Impact on Business
Ransomware is malware that encrypts data and computers and holds that data and computers hostage until payment is made. Cybercriminals use these attacks as a way to steal money from people and organizations. Once infected, critical business data, intellectual property, customer information, and even operational systems become unavailable, resulting in severe disruption, lost revenue, reputational loss, and in some cases, liability.
Why Microsoft Products Are Popular
Popularity and Market Share
Microsoft products control the market. This includes its widely used Windows Operating system, Office suite and Azure cloud services. This popularity makes them an attractive target for hackers. The more users there are, the greater pool of victims there are, and therefore the greater chance of success for the attackers.
Vulnerabilities
All widely used software systems will have vulnerabilities, and Microsoft products are no exception. Cybercriminals will exploit these vulnerabilities, or weaknesses, to gain unauthorized access and to install malware, and launch ransomware attacks. Microsoft frequently releases security updates, and many users do not update their PC as soon as they are made available, leaving their systems vulnerable to known vulnerabilities.
Valuable Data
Business relies heavily on Microsoft’s technology stack to store and analyze sensitive data. Ransomware hackers know this and are aware that encrypting valuable files, and databases, equals monetary gain. Furthermore, Microsoft’s applications typically engage with additional corporate assets, further compounding the effect of an attack.
Reducing the Chances of Being a Victim of Ransomware Attacks
Regular Software Updates and Patching
To decrease the likelihood of a known vulnerability being exploited, it is imperative to deploy software updates and security patches as soon as possible. Organizations should take the necessary steps to develop automatic updating and a comprehensive patch management strategy.
Strong Endpoint Protection
Deploying robust endpoint protection solutions, including, but not limited to, firewalls, antivirus software, and intrusion detection systems can assist in identifying and preventing ransomware attacks from happening. Continuous updating of these solutions will keep an organization ahead of an evolving threat landscape.
Employee Education and Awareness
Human error continues to be a large piece of ransomware attacks success. Performing regular training to ensure staff understands the risks, phishing attacks, and safe usage practices when online can sharply reduce the chance of staff creating accidental malware infections.
Data Backup and Disaster Recovery
Backing up sensitive data is critical to limit the impact of a ransomware attack. Organizations must remember the 3-2-1 format of back-ups which means having 3 copies of your data, 2 different types of media, and a copy that is off-site or disconnected. Regularly testing backups and disaster recovery planning is essential as well.
Multi-Factor Authentication (MFA)
Adding MFA to all user accounts can provide another level of protection, as well as requiring additional verification process that reduces the chance of a successful unauthorized access and prevents attackers from taking control of critical systems.
Final Thoughts
Organizations should be concerned with the rapid growth of new ransomware groups, and their increased focus on Microsoft products. Ransomware attacks can have devastating consequences for organizations, from lost money, loss of business, and/or reputational damage.
It is important to understand what ransomware is, why groups are targeting Microsoft products, and to adopt proactive security controls, to reduce the chances of becoming a victim of ransomware attacks by advocating regular updating, strong security controls, staff training, and saucing such protections.
If you’d like to know how RCOR can help your organization stay ahead of Ransomware, call us at 919-263-5570, or click here to schedule a 15 minute Zoom meeting.