How to Protect Your Business Against Common Cyber Attacks.
Technology is ever changing, which means as the internet grows, so does the sophistication and capabilities of cyber-attacks. Cybercriminals constantly develop new ways to exploit even the most complex networks and servers. One of the newer types of attacks that businesses should keep an eye out for is called double extortion ransomware attacks. It is important to understand what they look like, what they do, and how you can better defend your business against them.
Becoming a victim of these malicious attacks can lead to devastating consequences, therefore security awareness is a top priority.
Double Extortion Ransomware:
Ransomware is a common and well known way of infiltrating systems. It works by uploading malicious software designed to block access to a computer system until a sum of money is paid.
This isn’t a new form of cyber threat, however recently cyber criminals have begun encrypting victims data and threatening to release it publicly if an additional ransom is not paid.
How do Cyber Attackers Gain Access?
Attackers use a variety of tactics to gain access to servers such as:
- Phishing attacks – attackers attempt to trick users such as luring them with ‘bad links’ that will download malware or direct them to a fraudulent website.
- Malware – software that is designed to disrupt, damage or gain unauthorised access to a computer system.
- Exploiting vulnerabilities – unprotected areas of a network that attackers can easily exploit. Macros are a common pathway that attackers use to do this.
- Brute-forcing servers – tests various combinations of usernames and passwords repeatedly until the attacker gains access. This is why complex passwords are so important.
- Data Leaks – attackers find publicly accessible sensitive data that has been accidentally exposed by a system’s poor network security.
- Stolen credentials – Attackers can do a double extortion attack from within the system by stealing login information.
There’s nothing to completely stop a double extortion ransomware attack, however, it is important to prepare your business for it:
- Design a strong backup and disaster recovery plan (BDR) so you don’t have to worry about never seeing your data again.
- Regular application and software updates – Update the hardware and software of your business regularly so the security patches are up to date to decrease the risk of being subject to an attack.
- Implement network segmentation to slow the spread and severity of an attack if a breach is to occur.
- If an attack occurs, isolate the affected systems, turn them off to prevent further damage, then let IT specialists recover your data and restore your systems.
Supply Chain Attacks
A supply chain attack is a cyber-attack that seeks to damage an organisation’s less secure element in the supply chain. As AI helps so many people, it is also a cause of increased supply chain attacks by making cyber criminals more sophisticated.
Here are some measures you can put in place:
- Regularly run risk assessments and audits of your suppliers and partners to verify their security practices and compliance standards.
- Verify the identity and authenticity of suppliers and partners before transacting or sharing any sensitive information with them.
- Test your supply chain contingency plans and backup strategies often.
New technology brings with it increasingly sophisticated cyber-attacks, such as double extortion ransomware, posing significant threats to businesses. Understanding the tactics employed by cybercriminals, from phishing to exploiting vulnerabilities, is crucial for effective defence. Implementing robust security measures, including strong backup plans, regular updates, and stringent access controls, is essential in mitigating the risks associated with these attacks.
Additionally, securing IoT devices and scrutinizing supply chain practices are vital steps towards bolstering overall cybersecurity resilience.
Vigilance and proactive measures are imperative in safeguarding against the unpredictable cyberworld.
For information on how you can improve your cyber security today experience in this space, call (08) 7200 6080