CISOs and cybersecurity teams can reduce the likelihood of ransomware attacks, reduce exposure to vulnerabilities, and keep their organizations safe with the Cobwebs Technologies solutions
NEW YORK – January 6, 2022 – (Newswire.com)
Cobwebs Technologies announced today that its solutions can help organizations to face the growing wave of ransomware threats. Ransomware attacks can cost companies millions of dollars and impact the brand and reputation of the victimized organization. 27% of malware incidents reported in 2020 were attributed to ransomware attacks by threat actors who compromised organizations using malware to encrypt their information and hold hostage for ransom. With the migration to remote work due to COVID-19, cyberattacks increased exponentially during 2021 with high-profile ransom attacks against critical infrastructure, private companies, and municipalities. The ransom paid has also increased, in some cases reaching tens of millions of dollars. Furthermore, ransomware attacks have also become more sophisticated, using obfuscation and anonymous payment techniques, such as being paid in cryptocurrency to websites on the dark web, to avoid detection. Well-organized criminal organizations focus their attacks on exfiltrating company information after they have done their due diligence to understand their victim’s financial picture and the industry it operates in. They also deploy malware to encrypt company systems, including backup systems, to exfiltrate vast amounts of protected data. When victims refuse to pay, their data will be posted, and often also sold, on the dark web. But even when victims pay, there is no guarantee that they will receive the decryption key to regain access to their encrypted systems and data.
When hit by a ransomware attack, companies should follow their incident response plan and inform senior management, the legal department, and regulatory authorities as required by law. The next step is for the CISO and cybersecurity teams to investigate the incident for mitigation. If the victimized company has insurance, then the insurance company must be notified as well before negotiating or paying any ransom.
There are a number of steps that organizations can take to reduce the risk of a ransom attack, as well as the risk of damage if an attack occurs.
For the five steps described above, an organization needs a web investigation solution that enables CISOs and cybersecurity teams to harness relevant data using OSINT methods for analyzing malicious activities in real-time and present the results in a comprehensive reports. This allows organizations to identify threat actors as well as high-risk data related to ransomware and other cyber attacks for mitigation and follow-up.
Source: Digital Journal