5 Truths About Ransomware—Ware Do We Begin?

The true test of security lies in the strength of its weakest link. No matter how robust other security measures are, if one part is vulnerable, the entire cybersecurity ecosystem is at risk.

In today’s rapidly changing cybersecurity world, there is hardly any room for error. It’s essential for businesses to gain clarity in understanding ransomware—its mode of operation, how to prevent it, and how to effectively safeguard operations from it. Uncover five facts about ransomware and have the upper hand in managing emerging threats and proactively protecting your systems and data.

 

Ransomware will cost its victims around $265 billion (USD) annually by 2031.

Cybersecurity Ventures, 2022

Fact #1 Go beyond minimising risk at the initial intrusion point

Security strategies tend to rely on penetration testing and phishing training for employees to keep the business safe. These are undoubtedly crucial factors in a security plan, but it leaves out the next phase of damage control—when an attacker finds an avenue to enter. The next steps after a breach are just as important, if not more so.

 

What you can do

You can push for proactive solutions and roll out initiatives like real-time monitoring with machine learning in the background. This may seem like a regular security practice, but it makes a world of change in ransomware prevention.

Fact #2 A basic oversight? A threat overnight

In the cybersecurity world, the assumption that all cyberattacks are inherently advanced and complex is frequently met with scepticism, mainly due to the lack of concrete evidence to support such claims. However, since most companies operate with inadequate cybersecurity frameworks, cybercriminals do not necessarily face significant hurdles in penetrating their systems.

Without a formidable solution to fill the gaps in cybersecurity coverage or talents with distinct skill sets, IT systems and networks could fail to maintain cybersecurity best practices, leaving them open to vulnerabilities.

 

What you can do

You can better manage your risks toward ransomware by ensuring that your software is up-to-date and data back-ups are regularly done.

Fact #3 Steps for proactive maintenance of digital security

With the increasing reliance on digital systems and networks, it becomes essential for organisations to protect their data from threat actors. However, many companies are unable to fund cybersecurity efforts adequately due to limited budgets because funding is concentrated on systems and solutions instead. This can leave them vulnerable to attackers that seek out exploitable weaknesses using techniques like ransomware, advanced malware, and phishing attacks.

 

What you can do

You can combat cyber threats by taking extra steps to secure your systems. Ensure all systems are patched regularly with the latest security updates, addressing any vulnerabilities before attackers exploit them.

Fact #4 The unshakable silence about ransomware attacks

We only hear about ransomware attacks through headlines. The most telling details of the attack itself are relatively unknown. This leaves out crucial information other businesses could learn and improve from, like the methods and mode of exploits used. It is, therefore, difficult to understand and decipher the exact plan of attack and the latest techniques applied.

 

What you can do

Some alternatives that can give you a better picture of ransomware threats and tactics include staying updated through cybersecurity industry publications, attending webinars or conferences, and participating in information-sharing groups.

Fact #5: Zero Trust—the only trust you can rely on

The Zero Trust mindset in cybersecurity assumes that no one can be trusted and everything must be verified before granting access. This offers many benefits, including the ability to give the right access and tools to the right people, limiting lateral movement in the event of a compromise, better visibility into network activity, and enhanced compliance.

 

What you can do

By following Zero Trust principles and deploying Zero Trust security solutions and Secure Access Service Edge (SASE), you can ensure better protection for access across multiple applications, data, tools, and resources.

The Four Steps of a Ransomware Attack

It is vital to adopt a culture of ‘security by design’ in your cybersecurity framework to limit the risk of your network being infiltrated. This is because the culture takes a proactive, pragmatic, and strategic approach in dealing with risk and security, which improves your overall posture in facing evolving digital threats.

Ready to Deploy Ricoh’s Cybersecurity Solutions?

With the right approach, mindset, and tools, you will be able to manage risk better. In this ever-changing digital landscape, it is necessary to have the right cybersecurity solution provider by your side. Ricoh’s cybersecurity solutions, combined with our curated partnership with leading cybersecurity specialists, can give you the confidence to do business while we help protect your organisation from threats.

Our key benefits include:

• Ransomware mitigation, which reduces the risk of reputation damage and business showdown
• Helping operations continue despite an attack
• Reducing visibility to ransomware attackers
• Enhancing your IT security posture
• Adding rigour to your IT compliance practice
• Round the clock expert cybersecurity support.