Ransomware Risks in 2022

Your business is at risk now more than ever. Security experts consider this the “golden age” for malicious hackers. Unfortunately, as 2022 unfolds, we predict that this new form of crime will only worsen. Posts made across forums on the dark web indicate that threat groups are targeting higher-profile companies more than ever. These groups target domain administration rights, RDP, and VPN services, among other sensitive domains. What’s worse is that these threat groups are trending towards organizations. What used to be individuals and small factions have splintered across obscure forums and are now collaborating to target larger and larger groups for ransomware and other malicious attacks.

This article will cover some of the most severe threats presented by ransomware groups.

What is Ransomware?

If you aren’t familiar with the term, ransomware is a type of malware that encrypts your data and prevents its access until a ransom is paid. The payment typically comes in the form of Bitcoin or other cryptocurrencies. After making the payment, hackers will either release the data encryption or attempt to extort more from victims.

New Attack Priorities

Simply infecting a business with ransomware may not be the goal anymore. More sophisticated attacks involve infecting computers with malware as only the start of an attack. While a blackmail payment is still part of the operation, many groups also steal sensitive data. This data is used to extort victims further. In addition, threats to publish or sell passwords, source code, and more are becoming common. Because there are multiple ways for attackers to monetize their crimes, criminals feel emboldened.

There are also considerations such as Ransomware-As-A-Service. This is a criminal model where hackers offer subscriptions to their services for a fee. Some even lease out their malware for a fee. These operations are both difficult to track down and stop, and will continue to grow in 2022. This is troublesome as the model supports the rapid growth and development of new attack strategies. Even if you aren’t a large business bringing in millions annually, you should take heed. At some point, criminals using ransomware will target your business. Some businesses worry that they will pay criminals before suffering an attack. This business model would mirror old-fashioned Mafia “protection money” rackets.

Increased Resignations and New Pressures

Due largely to the ongoing COVID-19, pandemic resignations are increasing. Work-at-home models present an additional security risk. As businesses don’t have full control over the computers workers have at home, security risks may be present that don’t exist at the office. Organizations also have to cope with training new employees who may not know the importance of cybersecurity. Fatigued workers suffering low morale may be more negligent in their duties. Therefore, it is essential for you to be proactive in managing your risks.

If you’re concerned about ransomware – As you should be – Give Arruda Group a call. We’re on the cutting edge of cybersecurity. We will help establish standards and protective measures against this new threat. The landscape of cybersecurity is always changing. By putting in place basic values training, you can help protect your business even in the future.