The Evolving Ransomware Threat: How Safe Are You?
January 30 @ 11:30 am - 1:00 pm UTC
Executive Luncheon and Live Webinar Event
In recent years, cybercrime has changed drastically. While there is a vast array of attack vectors available to malicious actors, ransomware is now one of the most dangerous and prolific cybersecurity threats. Join Alvaka Networks on Thursday, January 30, for our Ransomware Luncheon event, as we discuss the significant increase in ransomware attacks, it’s transformation into an innovative and intricate tool for cyber criminals, and some best practices to minimize your risk.
Imagine a bank robber that discovers a way to get the bank to send all of their funds over the internet with no way to trace it back to the robber…This is how ransomware works. Criminals steal valuable information and data, place them in a safe that only they know the combination to, and then ransom off the combination. It is that simple, and yet, it could ruin your company!
Ransomware has developed into a more sophisticated business model, and a multibillion dollar industry. Instead of the fairly traditional automated attack, attackers are able to customize ransoms based on specific information of your business. We have therefore entered into a new, even more malicious, era for ransomware that is hitting mid-market companies particularly hard.
** Please indicate if you will be attending in person or via webinar in the “Notes” section of the registration form. Webinar information will be provided the week of the event. **
What is different about this new era of Ransomware?
These modern criminals are both smart and patient. They bide their time well learning about the victim’s network. During this process, they are identifying and counting servers, they are figuring out user counts and how much data and storage is in place, and they are learning about the backups. These attacks are not executed blindly using software scripts, where grandma’s system is priced the same as the Fortune 500 company.
Once the inventory is complete, they price out the ransom much like a legitimate software vendor, cloud provider, or other IT vendor would do. It appears that ransom pricing is now based upon the number of servers, apps, PCs, storage, etc.
Finally, they plan the strike. This is not just done at a random time after the malware is installed. Instead, they pick a time when the company is most vulnerable. This allows the encryption process plenty of time to complete when no one is watching. Cue in on the need for system monitoring services here. One of the most vulnerable times for an attack is around a holiday, especially the Christmas and New Year holidays. In North America, almost all companies are shut down during this time. Encryption can purr away undetected while everyone is away. Once the dastardly deed is detected, it is highly unlikely anyone is even around to help with the recovery. Victims are caught completely flat-footed and without available IT resources. And the pressure to pay the ransom is dramatic.
Developing complete IT security and disaster recovery plans takes time, knowledge, preparation and budget. If you have not given much thought to this process, you are just a victim waiting to happen. Put your IT security, backup and disaster recovery, and insurance programs under scrutiny.
During this event, we will provide you with some valuable insight on how you can prepare and arm yourself against this very real and possible threat. Plus, lunch is free!