How are Businesses Blackmailed by Ransomware Gangs - Infographic

Ransomware Infographic Cybersecurity

TOP 10 Ways BUSINESSES are BLACKMAILED BY RANSOMWARE GANGS

Advancements in technology means ransomware groups can now

easily target businesses and take control of sensitive information. A

cybersecurity attack can leave businesses vulnerable to data exposure,

reputational damage, and profit loss.

1 Using Hidden Identities

Ransomware gangs use dark web forums

to organize and recruit workers. They use

tools and cryptocurrencies to hide their

identities so they cannot easily be tracked

down. By using hidden identities, they are

able to manipulate you.

2 Taking Control of Data

Ransomware is malware preventing your

company from accessing its data. These

hacker gangs can take control of your

sensitive business information including

your employee data, customer data,

business secrets, and more.

3 Double Encryption

Sometimes two separate ransomware

gangs will collaborate on a cyberattack.

This is known as double encryption,

and the tactic is used to increase their

chance of profit at the expense of your

sensitive business information.

4 Layered Encryption

Another tactic ransomware gangs use is

layered encryption. The gang will use

one ransomware strain to encrypt the

data set, and then use a second strain

to encrypt the entire data set again

5 Side-by-Side Encryption

Instead of layering strains on top of a

data set to encrypt the data, an attacker

may use a side-by-side approach. This

technique involves using one ransom-

ware strain to encrypt only part of the

data set, and another strain to encrypt

the remainder of the data.

6 Making Threats for Ransom

After a ransomware gang accesses and

encrypts your sensitive business data,

they will typically threaten you for a

ransom. You will be asked to pay the

ransom by a certain deadline in order

to receive the decryption key.

7 Exposing Sensitive Data

If you choose not to pay the ransom, the

attacker may threaten to delete the data

or expose it. If the data is exposed, it

could put your employees, business

relationships, and your consumers at risk.

8 Cyber Extortion

Law enforcement officials and cybersecu-

rity experts have warned against paying

ransom. If you choose to pay, you are

much more likely to suffer another attack.

Plus, paying does not guarantee you will

receive the encryption key. Hackers only

release the data 65-70% of the time.

9 Risk of Liability

In October 2020, the U.S Treasury Department warned victims who

respond to ransom demands may be liable to prosecution themselves.

The criminal offense doesn't apply to the payment of ransom from

hard-disk encryption, but it can apply to any extortion payment. The

same law applies to third parties such as financial institutions, cyber

insurance companies, and companies involved in digital forensics and

incident response.

10 Exposing Stolen Data to Family and Friends

When desperate, a ransomware gang can threaten to expose data to family and friends on social media.

This can include compromising pictures and videos.

Ransomware gangs can pose a serious risk to your business. SecPoint can

help protect your business from a ransomware attack. Browse our

products designed to prevent data breaches from hacker gangs so you

can keep your information safe.

As if ransomware wasn't terrifying enough, it is becoming increasingly sophisticated and increasingly cost-effective.

The evolution of ransomware over the past few years has pushed the cost of ransomware in the US to an average of $1,517, with one incident costing more than $19,000.

And that's for the average business, making ransomware an attractive choice for financially motivated hackers.

Organizations will be required to change their practices if they're going to stay ahead of the evolving threat.

Elsewhere, a German train operator was hit by a "sophisticated attack" that reportedly froze 30 trains and left passengers stranded for hours.

What is Ransomware?