A Beginner's Guide on Ransomware: How To Identify and Prevent Attacks

Table of Contents 

1. What is Ransomware?

2. How Ransomware Works 

3. The Dangers of Ransomware 

4. How To Identify A Ransomware Attack

5. Prevention of Ransomware Attacks

What Is Ransomware?

Ransomware is a type of malicious software that threatens to release or block access to data or a computer system by encryption until the victim pays a ransom fee in cryptocurrency tokens or fiat money. Usually, there is a fixed deadline for payment of the ransom. If the deadline is not met, the data may be released or the ransom fee may be increased. Ransomware has been used as far back as 1989 when the AIDs virus was used to extort money from victims, who mailed the money via Panama to the cyber criminals.

In 2005, the first cases of cyber extortion through blackmail were reported in Russia. Over the years, Ransomware use has spread widely among hackers, especially since the adoption of cryptocurrency. In 2011, there was a marked increase in the rate of ransomware attacks. Sometime in the year 2016, more attacks were noticed and antivirus software took on more designs to focus viral scanners on ransomware. Since then, ransomware attacks have evolved in different ways to trick victims into paying for access to their own data.

How Ransomware Works 

Ransomware is installed by finding loopholes in your data security system and exploiting them. One method Ransomware employs is the use of phishing: basically sending scam emails that convince victims to release administrative control or access to sensitive data. Once access is given, some or all of the victims files are encrypted and the victim loses data access. The files can only be decrypted with a mathematical key known to the attacker. The victim receives a message demanding for an untraceable payment to enable the attacker to decrypt the file and restore access.

Another way Ransomware works is by exploiting the remote desktop protocol (RDP). An attacker can use RDP to successfully access and authenticate enterprise data after guessing and entering employee passwords. The data is accessed remotely on a computer within the enterprise network. Subsequently, the malware is downloaded and executed on the machine under the attacker's control. Access is gained and original files are replaced with encrypted versions. In some cases, original files are deleted so that the only available files are encrypted. This leaves the victims with no choice than to pay the ransom. Other ransomware attacks may be direct or involve other social engineering techniques like sending a fake law violation  notification from a government agency and demanding a fee. The bottom line is that Ransomware attacks generally involve installing malicious software, encrypting files and collecting ransoms.

The Dangers of Ransomware 

The obvious consequence of falling victim to ransom attacks is monetary loss: however, there are many more dangers that could result from having ransomware on your system. The worst result of Ransomware is the data loss that occurs: hackers can encrypt multiple files, rendering them useless. This can negatively affect your business, especially if sensitive customer data or organization information. If your customers find out that your database has been compromised, they will lose trust in your business and switch to your competitors. Your reputation as an organization may be destroyed, and in some countries you may face legal implications.

The costs of a Ransomware attack are beyond financial, even though in most occasions the ransoms involved are expensive and paying them may cause an organization to shut down. Personal and organization devices may also malfunction after a Ransomware attack, contributing to increased IT costs for your organization. These devices can also be hacked to obtain credit card data and login information for more fraudulent activities. Once a Ransomware attack occurs, your data system becomes more vulnerable to more attacks. To ensure reduced risk of repeat attacks, your organization has to spend more in strengthening cybersecurity defenses. Devices may be replaced and employees may be made to undergo cybersecurity training, increasing costs and reducing work productivity in your organization.

How To Identify A Ransomware Attack

Identifying a Ransomware attack is key to preventing the loss of sensitive data that could ruin your finances and run your organization out of business. The crucial part of avoiding Ransomware attacks is identifying phishing: carefully check the email addresses of all your received emails. Ransomware attackers use phishing emails that look very similar to the legitimate email addresses that they are trying to imitate. Watch out for spelling errors and always confirm that an official email from an organization is actually from that organization: you can always call or reach out to verified organization social media handles to confirm. Suspicious links and encrypted zip file attachments are also key markers of ransomware attacks to watch.

File monitoring is important for the detection of suspicious activity: you should have both a real time and historical record of all file and folder activity on your network file shares. Observe any sudden increases in file renames because once there is a Ransomware attack on your data system, more files will be renamed as your data is encrypted. Set up a sacrificial network share on a slow disk: it will act as an early warning system and delay the ransomware from reaching your sensitive data. The network share should contain thousands of small, random files and delay the login process to access data. You can also install anti-ransomware software applications that monitor the Windows registry for text strings associated with Ransomware. There is no hundred percent safe tool to identify Ransomware, but you can be on the lookout for these signs and maintain your guard.

Prevention of Ransomware Attacks 

In the sequence of events to ensure that your data files are not accessed and encrypted by cybercriminals, preventing Ransomware attacks is the next step after identifying these attacks. Once you identify a phishing email with suspicious links or attachments, do not click on the links or download the attached files. In addition, avoid using unknown websites to download file attachments; Ransomware could be attached to these websites. Do not give out personal information via call, text message or email to any untrusted sources. In addition, avoid the use of unknown USB devices or other storage media in public places because they may be infected with Ransomware. Avoid using public WiFi networks and connect to a secure VPN service if you cannot avoid using public WiFi networks: public WiFi networks are vulnerable to malware attacks.

Back up sensitive data to prevent further losses that could result from a Ransomware attack. The files should be stored offline and protected so that they do not fall into the wrong hands. You can also use cloud services that enable you to retain previous files and roll back to unencrypted versions in the face of an attack. Create a plan so that your IT team and the rest of your staff know how to identify, prevent and handle ransomware attacks. Check your port settings, especially Remote Desktop Protocol (RDP) port 3389 and Server Message Block (SMB) port 445. You can close them or leave them open, but limit connections to trusted parties because Ransomware attackers find these ports particularly vulnerable. Secure your organization's configuration settings and close security gaps from default configurations. In addition, make sure all your organization's operating systems, applications and software are updated regularly to close any security gaps. Finally, you can use an Intrusion Detection System (IDS) to identify malicious activity and update your organization immediately if it detects any ransomware attacks. After implementing these steps, you are guaranteed to have high level data security and prevent your data from falling into the hands of ransomware attackers.