Loading Executive Luncheons

In recent years, cybercrime has changed drastically. While viruses and bugs are still popular, ransomware is now the most dangerous threat. 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. The criminals steal valuable information and data and stick them into a combination that only they know the combination to, then ransom off the combination. It is that simple…And it could ruin your company!

More recently, ransomware attacks have developed into a more sophisticated model. 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.

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, they are figuring out 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—like before a weekend on Friday. 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. An even better time to attack is just before Christmas Eve or on Christmas Day. 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.

Join Alvaka Networks at our Live Webinar event on Thursday, March 28th, as we discuss how ransomware is changing and becoming even more dangerous than ever.

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. During this webinar, we will provide you with some valuable insight on how you can protect yourself and your company.

*Webinar information will be provided as the event approaches. In-person attendees are also welcome; please indicate in notes section of registration form.

 

Check out this video from our CEO, Oli Thordarson, with tips on how to protect your employees from ransomware.