Rise in Ransomware: Exploring the Driving factors

Ransomware attacks continue to dominate headlines with groups like ‘Lapsus$’ and ‘Conti’ popping up frequently in a constant barrage of alarming stories. There is always a new attack or development in ransomware that keeps cybersecurity professionals on their toes. Ransomware attacks have taken over as the most effective means for cyber assailants to use and exploit access to highly sensitive information for illegal gains.

Reasons Behind the Rise in Ransomware Attacks:

Compromised Credentials 

The most common way to steal data is by compromising passwords. According to Verizon, 81% of all cybercrime has stolen or guessed credentials as a starting point, a huge vulnerability for all organizations.

With just a username and password, you will never truly know the real identity of who is using them. Hackers will target both weak and already compromised passwords when acquiring entry into a system, device or network.

How to Respond: One of the best ways to keep your information safe is by using multi-factor authentication methods and stronger antivirus protection while also making sure that you’re practising smarter password habits elsewhere.

Application Vulnerabilities 

Remember the REvil ransomware digital supply chain hack in July 2021? In this incident the ransomware gang exploited vulnerabilities in a public-facing internet application and used it to spread malware to thousands of supply chain partner organizations. Equally dangerous was the PrintNightmare vulnerability that affects the Microsoft Windows Print Spooler Service. This has the potential to allow an attacker to control a compromised computer.

Application zero-day vulnerabilities likes these present a top attack vector that is being exploited by ransomware groups.

How to Respond: Patch management should be a high priority for every online business.

Risk-based vulnerability management is the key to identifying vulnerabilities that are most likely to be exploited and taking immediate action. If you are experiencing issues with vulnerability management, switch to fully managed security service (MSP) providers like Indusface. The MSP continues to operate 24/7 and manages the digital…