How a SOC as-a-Service Helps

Ransomware is one of the most common cyber threats today, regardless of what industry you’re in. Adversaries are adapting and morphing their harmful techniques in order to avoid detection and infect a larger number of people. As a result, according to Cofense, ransomware has increased dramatically in the last two years. In the United States alone, ransomware losses are expected to reach $1.4 billion in 2020, covering downtime, lost wages, and customer defections.

One of the most common ways to inject malware into a victim’s network and systems is through targeted spear-phishing attacks. The most common and dangerous ransomware types in the news are REvil, Emotet, Locky, Ryuk, Conti, and HAFNIUM. Thanks to Ransomware-as-a-Service, there are now hundreds, if not thousands, of variants on the criminal underground (RaaS). According to Forrester Research, RaaS is on the rise because it’s profitable for cyber criminals and doesn’t require advanced skills. If ransoms are not paid, newer ransomware campaigns may include crippling extortion demands that threaten to publicly release sensitive information such as client lawsuit data or patient healthcare procedure files if ransoms are not paid.

Small-to-medium-sized businesses (SMBs) are increasingly being targeted by adversaries, who often lack the personnel and skills to defend themselves. Because hackers know that many smaller businesses are unlikely to survive a ransomware attack, they may feel compelled to pay a ransom to avoid the downtime. SMBs without a strong cybersecurity team or expertise are increasingly partnering with IT Service Providers to get comprehensive cybersecurity protection. Continuous monitoring, advanced threat detection, and integration with existing security tools and platforms can all help you improve your cybersecurity resilience and ensure you’re ready to fight ransomware.

How SOC-as-a-Service Detects Ransomware

Attackers are evolving their craft and so should you. SOCaaS enables IT teams to effectively address the evolving threat of ransomware with these best practices:

  • Predict attack vectors and find vulnerabilities: Legacy perimeter security like firewalls and anti-virus tools are no match against ransomware and well-funded adversaries looking for lucrative financial gain. SMBs are at risk if they have legacy applications or equipment, don’t think like an attacker and use Vulnerability Assessments, fail to patch vulnerabilities regularly, leave gaps in their data backup plans, or their cybersecurity posture is still evolving. A layered defense is critical to stop multi-pronged threats like ransomware that can gain access, move laterally within the organization, and even extract data for cyber criminals to release publicly if the ransom isn’t paid.
  • Prevent any threat, anywhere, in zero-time: Legacy anti-virus and anti-malware products are insufficient against today’s sophisticated cyber criminals. Ideally integrated with Security Information and Event Management (SIEM) for optimal protection, managed endpoint protection goes beyond traditional defenses to block and isolate infected workstations from the rest of the network until you can remediate them. Modern malware, including ransomware, copies itself with different names and hashes to various folders, so that if the original is identified and removed, the clones remain dormant but ready to attack later when you least expect it.
  • Detect attacks and suspicious behavior faster: A SIEM platform ingests and correlates network and security logs to identify suspicious activity for additional investigation. A SIEM solution can identify hidden EXE and DLL files that have never executed. As a result, copies of malware and ransomware variants can be removed from the network, preventing re-infection or propagation. When combined, SIEM and User Entity Behavior Analytics (UEBA) work together to baseline standard user behavior and pinpoint suspicious activity. File Integrity Monitoring (FIM) is also useful to detect if files have changed, which may signify a loss of data integrity and potential data theft or exfiltration.
  • Respond to incidents and threats fast and effectively:  Comprehensive monitoring of an organization’s infrastructure, user behavior, and sensitive data reduces cybersecurity risk and minimizes hacker dwell time. A single console with all the data and needed reports saves analyst time and increases productivity. Many enterprises do not have the staff or skills for 24/7 eyes-on-glass monitoring. SOCaaS increases visibility, filters out false alarms, and develops remediation recommendations for a quick respond to cyber criminals.

Ransomware can affect any organization or government entity. SMBs and service providers must take steps to reduce the risk and cost of advanced malware and ransomware. With SOCaaS, you can concentrate your IT and cybersecurity resources on day-to-day security operations, knowing that advanced attacks are unlikely.

The foundation for comprehensive cybersecurity monitoring is a Security Operations Center (SOC).  CYB3R-X Managed Threat Response, with its 24/7 SOC, provides advanced threat protection such as ransomware mitigation and simplifies your cybersecurity posture… all with a lower risk and financial investment.