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Ransomware is a kind of malware used by cybercriminals to stop users from accessing their systems or files; the cybercriminals then threaten to leak, destroy or withhold sensitive information unless a ransom is paid. Ransomware attacks can target either the data held on computer systems (known as locker ransomware) or devices (crypto-ransomware). In both instances, once a ransom is paid, threat actors typically provide victims with a decryption key or tool to unlock their data or device, though this is not guaranteed. Oliver Pinson-Roxburgh, CEO of  Defense.com , the all-in-one cybersecurity platform, shares knowledge and advice in this article on how ransomware works, how damaging it can be, and how your business can mitigate ransomware attacks from occurring. What does a ransomware attack comprise? There are three key elements to a ransomware attack: Access In order to deploy malware to encrypt files and gain control, cybercriminals need to initially gain access to an orga...

As Threat Actors Continuously Adapt their TTPs in Today's Threat Landscape, So Must You Earlier this year, threat researchers at Cybersixgill released the annual report,  The State of the Cybercrime Underground .  The research stems from an analysis of Cybersixgill's collected intelligence items throughout 2022, gathered from the deep, dark and clear web. The report examines the continuous evolution of threat actors' tactics, tools, and procedures (TTPs) in the Digital Age – and how organizations can adapt to reduce risk and maintain business resilience. This article summarizes a few of the report's findings, including trends in credit card fraud, observations about cryptocurrency, AI developments and how they're lowering barriers to entry to cybercrime, and the rise of cybercriminal "as-a-service" activities. Further below, I also discuss the need for a new security approach, combining attack surface management (ASM) and cyber threat intelligence (CTI) to ...

On Thanksgiving Day 2023, while many Americans were celebrating, hospitals across the U.S. were doing quite the opposite. Systems were failing. Ambulances were diverted. Care was impaired. Hospitals in three states were  hit by a ransomware attack , and in that moment, the real-world repercussions came to light—it wasn't just computer networks that were brought to a halt, but actual patient care itself.  Cybercriminals are more brazen than ever, targeting smaller healthcare organizations for big payouts. Sure, it would be nice to believe thieves once lived by a code of conduct, but if one ever existed, it's been torn to shreds and tossed into the wind. Sophisticated hacker groups are now more than happy to launch cyberattacks on medical clinics, nursing homes, and other health service providers. Small- to mid-sized healthcare organizations have, unfortunately, become vulnerable targets from which cybercriminals can easily steal sensitive data, extort heavy ransoms, and, wors...

The cybersecurity threat landscape has witnessed a dramatic and alarming rise in the average ransomware payment, an increase exceeding 500%. Sophos, a global leader in cybersecurity, revealed in its annual "State of Ransomware 2024" report that the average ransom payment has increased 500% in the last year with organizations that paid a ransom reporting an average payment of $2 million, up from $400,000 in 2023. Separately, RISK & INSURANCE, a leading media source for the insurance industry reported recently that in 2023 the median ransom demand soared to $20 million in 2023 from $1.4 million in 2022, and payment skyrocketed to $6.5 million in 2023 from $335,000 in 2022, much more than 500%. This shocking surge is a testament to the increasing sophistication of cyberattacks and the significant vulnerabilities inherent in outdated security methods. The most significant factor contributing to this trend is a broad reliance on twenty-year-old, legacy Multi-Factor Authentic...

The FBI and CISA Issue Joint Advisory on New Threats and How to Stop Ransomware Note: on August 29, the FBI and CISA issued a joint advisory as part of their ongoing #StopRansomware effort to help organizations protect against ransomware. The latest advisory, AA24-242A , describes a new cybercriminal group and its attack methods. It also details three important actions to take today to mitigate cyber threats from ransomware – Installing updates as soon as they are released, requiring phishing-resistant MFA (i.e. non-SMS text-based), and training users. The growth in the number of victims of ransomware attacks and data breaches has become so profound that the new cyber defense challenge is just keeping up with the number of new attacks and disclosures from victims. This is the product of stunning advancements in cybercriminal attack methods combined with a too-slow response by many organizations in adjusting to new attack methods. As predicted, Generative AI has indeed been a game ch...

Imagine a sophisticated cyberattack cripples your organization's most critical productivity and collaboration tool — the platform you rely on for daily operations. In the blink of an eye, hackers encrypt your emails, files, and crucial business data stored in Microsoft 365, holding it hostage using ransomware. Productivity grinds to a halt and your IT team races to assess the damage as the clock ticks down on a ransom demand that threatens to destroy your data forever. How did this happen, and more importantly, how can you prevent it from happening? Microsoft 365 (M365) is the lifeblood of countless organizations worldwide, offering a seamless, cloud-based platform for communication, collaboration and data management. Over 400 million users rely on Microsoft 365 for everything from document creation and management to video conferencing 1 . While M365 has empowered businesses to undergo digital transformation and remain competitive with its support for distributed, hybrid and remote w...

Cybercriminals are vipers. They're like snakes in the grass, hiding behind their keyboards, waiting to strike. And if you're a small- and medium-sized business (SMB), your organization is the ideal lair for these serpents to slither into.  With cybercriminals becoming more sophisticated, SMBs like you must do more to protect themselves. But at what price? That's the daunting question many SMBs are forced to ask. Amidst your everyday challenges, the answer seems obvious: forgo investing in a robust cybersecurity solution for the time being. However, the alternative is to cross your fingers and hope hackers don't find you. That, of course, isn't the most prudent strategy, as the uncomfortable truth is threat actors now see your organization as a quick path to profit. Therefore, if your defenses are weak—or just not there—these digital crooks are likely to disrupt your operations, access sensitive data, and extort a heavy ransom. In this article, we'll expl...

The target of attacks has shifted from traditional infrastructure to mobile users and endpoint devices, according to a new report. Research from SpiderLabs found that malicious tools became more customized, automated and persistent in 2010. This trend combined with the popularity of mobile devices and social media is providing the perfect recipe for cybercriminals looking to compromise business, customer and user private and sensitive information. Key findings: Food and beverage regained its title as the most breached industry-representing 57% of the investigations. Third-party vendors continue to put companies at risk-88% of breaches resulting from insecure software code or lax security practices in the management of third-party technology. Cybercriminals got fresh in 2010-because in-transit credit card data is usually more recently created (more fresh) than stored data, 66% of investigations found the theft of data in transit. A single organized crime syndicate may be respon...

As the holiday season approaches, retail businesses are gearing up for their annual surge in online (and in-store) traffic. Unfortunately, this increase in activity also attracts cybercriminals looking to exploit vulnerabilities for their gain.  Imperva, a Thales company, recently published its annual holiday shopping cybersecurity guide . Data from the Imperva Threat Research team's six-month analysis (April 2024 – September 2024) revealed that AI-driven threats need to be top of mind for retailers this year. As generative AI tools and large language models (LLMs) become more widespread and advanced, cybercriminals are increasingly leveraging these technologies to scale and refine their attacks on eCommerce platforms. Imperva Threat Research also found that retail sites collectively experience an average of 569,884 AI-driven attacks each day. Understanding what types of threats are accounting for these attacks, and how to protect against them, is critical for retail businesses ...