How Should Companies Handle Ransomware Attack

Author: Klenam Ju Updated: 08/09/22

Sometimes I deep dive into the cybercrimes that are taking place globally. Ransomware stands at its peak when it comes to malicious malware attacks. Global efforts are put into the digital landscape to curb cyber attacks as done on CISCO, or other 93% of the companies’ networks. The viable question that arises in front of everyone is how should companies handle Ransomware attacks. Administrations need to train their staff on curbing the use of simple passwords and use multi-layer protection. Let me take you on a ride on how you can protect your company and mitigate the risk of a Ransomware attack. I hope it’s a joyful one!

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How Do Companies Deal With Ransomware?

High-profile Ransomware attacks have already happened in the USA in the last years on the Kaseya and the Colonial Pipeline. These companies faced disrupted operations and supply chain problems due to Ransomware attacks. How do companies deal with Ransomware? The next big question emerges on the scene when talking about high-end malware attacks.

At an alarming rate, America has seen a 62% rise in Ransomware attacks since 2020. Cybercriminals exploited many vulnerable paths in the networks to cause these incidents. They encrypted the victims’ files and sabotaged the crucial data to demand ransom. Most companies could not find the source of the attack and ended up paying the hefty ransom amount. More than $70 million has been paid in ransom until now, and the figure is increasing at an alarming rate. In America, more than 1,500 companies have faced deadly Ransomware attacks.

Necessary steps need to be taken by companies to protect their organization against the innovative attacks happening now and then. To address new security vulnerabilities, you must:

  • Train, your team against the phishing email and false Ads
  • Apply multi-layer security to protect the confidential information
  • Application of firewalls and filters to secure the devices from getting into the hands of attackers
  • Providing cyber expert support immediately in the wake of the security breach
  • Never pay the ransom; it is necessary to reach out to local law enforcement agencies asap!
  • Quarantine your system from the whole network immediately to help curb the escaping of the Ransomware worm.

Using anti-virus software and anti-malware programs is necessary to decrypt the infected files. Always have the data backup and update the system every time.

What Happens To An Organization After A Ransomware  Attack?

While reading about Ransomware, a common question always arises on the scene what happens to a company after a Ransomware attack? There is heavy data loss, and a few companies must halt their operations. Most companies face financial losses when a Ransomware attack occurs. The operational downtime suffers. Organizations seem to pay large sums of money, especially cryptocurrency, to access their data. The irony, a few companies do not get their data back after paying a hefty amount.

Additionally, when the Ransomware attack happens, the organization’s multiple devices get affected. It means you need to potentially safeguard your data and protect it from another Ransomware attack. Many companies end up in devastating situations that can lead to financial crunch and sometimes shutting down their operations altogether. A possibility is there that the Ransomware attackers may publish the confidential data on the dark web too.

However, the companies hit up badly by Ransomware attacks must not pay the ransom. The major reason is that you will pay a big amount every time. These gangs prove tough on the victim and make them vulnerable to losing all hope.

Next time, if your organization gets blown by a Ransomware attack, make sure to find the source, and take the instant decision to call the law enforcement agencies. You will not end up becoming like that 95% of the agencies that never get their data back.

How Can An Organization Recover From A Ransomware  Attack?

Can a company recover from a Ransomware attack? The short answer is ‘YES’. While checking on the background of the Ransomware attack, I found that 2021 proved quite costly in terms of a Ransomware attack. Notorious hackers have not even left the IoT devices, increasing the global malware target to 33%. More than 50% of the organizations have been targeted globally.

Crypto Ransomware and Locker Ransomware are two types of Ransomware attacks that attackers have typically used. They get into the victim’s system and lock the source files. A threat is published to victims to pay the ransom in cryptocurrency or vouchers. Neither, the consequences they have to bear is publishing sensitive information on the dark web.

What is the best solution to a Ransomware attack? These are the best ways to recoup your system from the attack if the Ransomware has already been launched.

  • Security patches and updating the system are the things that the companies can exercise to remove any vulnerabilities further.
  • Provide full-fledged training on curbing Phishing emails and how to detect them. Trian your employees not to open any suspicious emails until pushed through the top management.
  • A multi-level authentication system can help. It involves the higher management and the cyber security expert. It means no outside file must be opened without permission pushed by the company’s cyber security department.
  • Anti-Ransomware solutions must be used. These types of software detect malicious files and check for vulnerabilities to control and stop the damage.
  • Always seek the checkpoints from where the Ransomware got into the company’s network. Ransomware attacks do not start abruptly as infections like Emotet, CobaltStrik, Trickbot, and Dridex are firstly released. After this, the locker or crypto Ransomware will get into your system.

The best way is to educate the employees to prevent any attack. Ransomware is quite innovative. But, proper education and training can prevent hostile attacks on the company’s system. As we say, ‘Prevention is better than Cure’.

Ways To Protect Your Company From Ransomware

‘The clock is ticking, and you lose money every minute.’ Yes, it is right! The Ransomware encrypts the data after the attack that has been carried out on the system. The attack can be advanced and executed. The infiltration causes massive damage. Here’s what most companies want to acknowledge. The ways to protect your company from a Ransomware attack. 

How to protect your company/business from Ransomware? Let us show you some quick tips on protecting your business fully.

  • Reset The Passwords: The cyber security experts must reset the passwords of all the highly privileged accounts inside the hybrid environment. You can do this in Azure and Active Directory.
  • Unplugging The Affected Device: Unplug the affected machine asap! Yes, you heard that right. Ransomware is like a worm infection that travels from one system to another. Unplugging the host from the full network system will provide the utmost safety.
  • Restore Backup: Check for all the online and offline backups. If some damage is committed, make sure to restrict the login from a particular device.
  • Quarantine The Malware Affected System: It is important to pull out the malware-infected system. You must get the system into quarantine to let the experts check for the same. They will restore your data from the most critical sources.

Are you still searching for the answer to what to do if your company gets Ransomware? These are a few factors that you can consider to protect your business’s information from making its way to the dark web. The typical Ransomware protection framework must be used to keep off this creepy thing at bay. If the attack has already happened, then your cybercrime experts or cybersecurity agencies can help and protect you. An intelligence program on cyber security must be organized in the companies to help employees understand different types of Ransomware and how modern algorithms work.

Steps Companies Need To Take During Ransomware  Attack

Ransomware leaves a company without data or money, or it can be both. Imagine yourself getting into a situation where you are working, and suddenly all your files start getting locked. Panic! Yes, we all will! As Remus Lupin said to Harry Potter, ‘If you are afraid of death eaters in the first go, well, I won’t be surprised.’

I won’t be surprised either if you will feel devastated after an attack. These gangs are like death eaters only who suck the confidential information out of your company’s system. Here are a few steps to take during the Ransomware attack.

  • Take a Picture of Ransom Note: Unplug the machine on which you are working from the system immediately. However, take a screenshot (if possible) or a picture of the ransom note from your smartphone. It will help speed up the investigation process. It will help in restoring your company’s information as soon as possible.
  • Handover Over the Ransomware  Proof to Agencies: The organizations with their systems insured must hand over the proof to the investigation officer. It will help in initiating the system’s insurance process at the earliest.
  • Quarantine Infected Server: Quarantine the server that contains the infection with immediate effect. It will help in saving other connected computers in the network.
  • Automated Maintenance System Must Be Disabled: All automated maintenance systems must be disabled from the network. It can interfere largely with the forensic examination of a particular device. File logs contain the initial sources of the attacks, so stop the maintenance immediately.
  • Look Out For Online Decryption Tool: You must look for online decryption tools. If the Ransomware strain has been detected, you can search for a similar decryption tool. It will help in getting the original files back.

Risk Of Ransomware And How To Mitigate It?

We all want to know the risks of Ransomware. Like, what they are, and how to mitigate them properly.

The three significant risks of Ransomware  attacks are:

  • Data loss
  • Financial loss
  • Reputation loss

Most businesses have to shut down their activities because of the online leakage of their confidential information. Apart from that, Ransomware attacks threaten our society and economy. The restoration of data may take much time, leading to a potential customer loss to a company too. It is necessary to mitigate these loses or attacks quickly. How can companies mitigate the risk of Ransomware? Here are some potential ways that can support companies in mitigating Ransomware attacks.

  • Try to find out the phishing scam that has hit your company in past years. It will help you and your employees understand the attackers’ pattern. You can mitigate the risk by jeopardizing these attacks with full-fledged training.
  • The multiplication of innovative attacks is done by exploiting your company’s vulnerabilities. Make sure to possess at least two-factor authentication among the employees and cyber security departments to provide access to certain files.
  • Segment the main network from the VPN to hold the attack to a particular machine. Follow the rule of least privileged by limiting the access to the files by everyone.
  • Provide Ransomware attack simulation training in all departments. Employees will learn how to mitigate the attack if it has already occurred. What proofs need to be collected quickly, and how to disconnect or quarantine the infected system?
  • The company’s Chief Technology Officer must regulate the seminars and webinars for top to lower management. It will help them understand the peculiarities involved in the Ransomware attack. Widespread education can also help in mitigating the attack.

Ransomware has proven to be a big deal for companies losing billions to these attacks. Understanding the roots of the attack and working on mitigating them will protect the companies’ manifold.

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