News reports of ransomware attacks have become so common that we often don’t dig into the details. In a sense, the novelty of them has worn off. However, the sheer number of ransomware attacks over the last year is staggering. While cities like Baltimore, Atlanta and Albany may make the headlines, there are thousands of affected companies that we never hear about. These organizations simply pay the demands to make the problem go away. For some, malware attacks like ransomware have become part of the cost of doing business.
The COVID-19 pandemic has the potential to further accelerate ransomware demands. Companies, faced with work from home staff and reduced teams, as well as healthcare organizations who can’t afford to have their data held for ransom, are now facing another challenge. In April, Interpol issued a chilling statement: Hospitals and other institutions on the front lines of the fight against the coronavirus are now facing increased threats from cybercriminals and becoming targets for ransomware attacks. With tens of millions of workers now working from home, cyber criminals are exploiting untested remote access strategies and technologies.
Perpetrators of ransomware attacks can move quickly or take on disciplined military precision—think smashing a brick through a window or stealthily lying in wait for months (on average, an adversary remains undetected for 111 days1) for the right opportunity to strike. Because the attack strategy is unknown, it’s vital to Predict, Prevent, Detect and Respond to cyber threats like ransomware with both endpoint protection that blocks known threats and advanced security analytics that detect the unknown, advanced adversaries.
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