Ransomware is one of the most common cyber dangers today, regardless of what industry you’re in. Adversaries are modifying and morphing their damaging practices in order to avoid detection and infect a larger number of people. As a result, according to a credible website, ransomware has increased dramatically in the last two years. In the United States alone, ransomware costs are expected to total $1.4 billion in 2020, encompassing downtime, lost pay, and client defections.

One of the most prevalent ways to inject malware into a victim’s network and systems is through targeted spear-phishing assaults. The most common and dangerous ransomware types in the news include REvil, Emotet, Locky, Ryuk, Conti, and HAFNIUM. Thanks to Ransomware-as-a-Service, there are now hundreds, if not thousands, of versions on the criminal underground (RaaS). According to Forrester Research, RaaS is on the rise since it’s profitable for cyber thieves and doesn’t require significant abilities. If ransoms are not paid, newer ransomware operations may contain debilitating extortion demands that threaten to publicly reveal sensitive material such as client litigation data or patient healthcare procedure files if ransoms are not paid.

Attackers are always improving their skills, and you should do the same. With these recommended practices,  SOC-as-a-Service (SOCaaS) enables IT teams to successfully handle the changing danger of ransomware:

  • Predict attack vectors and identify flaws: Traditional perimeter security, such as firewalls and anti-virus software, are no match for ransomware and well-funded attackers aiming for a quick buck. Small businesses are vulnerable if they employ legacy programs or equipment, don’t think like an attacker and use Vulnerability Management, fail to patch vulnerabilities on a regular basis, have holes in their data backup procedures, or their cybersecurity posture is still changing.
  • Prevent any threat in real time, anywhere: Anti-virus and anti-malware software from the past are ineffective against today’s skilled cybercriminals. Managed endpoint protection that is optimally linked with Security Information and Event Management (SIEM).
  • Faster detection of assaults and suspicious behavior: A SIEM platform ingests and analyzes network and security data to identify suspicious activity that should be investigated further. A SIEM solution can locate EXE and DLL files that have never been run. As a result, copies of malware and ransomware variations can be removed from the network, preventing infection and spread.
  • Respond quickly and efficiently to crises and threats: Cybersecurity risk is reduced and hacker dwell time is reduced when an organization’s infrastructure, user activity, and sensitive data are all monitored. Analysts save time and enhance productivity by having a single interface with all of the data and reports they need. Many businesses lack the personnel or knowledge required to monitor their facilities 24 hours a day, seven days a week.

CYB3R – X’s Managed Threat Prevention, with its 24/7 SOC, provides sophisticated threat protection such as ransomware mitigation and simplifies your cybersecurity posture… all with minimal risk and financial commitment.