How Companies Can Defend Against Modern Ransomware Attacks

Ransomware has been around for a long time, and as it spreads, the sophistication of modern ransomware attacks continues to grow. According to a data breach investigations report, ransomware attacks have increased by 13% over the previous five years. The ubiquity of m modern ransomware attacks is concerning in and of itself, and while cybersecurity specialists have attempted to rebuild reliable countermeasures, modern ransomware attacks are deceptive. The best option is to try and protect against ransomware rather than stop it.

Modern Ransomware Attacks Model

Ransomware has changed substantially since its inception. Modern ransomware attacks stand in contrast to some of the most notorious ransomware attacks that have previously inflicted devastation. The threats persist even when companies deploy powerful endpoint security tools, including corporate VPNs with robust encryption tools. Traditional ransomware attacks rely heavily on the “spray and pray” method. Gaining access to systems, frequently through opportunistic email phishing operations or exploiting hidden vulnerabilities within target companies, was the method. Once inside the system, the ransomware searched and encrypted files.

The strategy was dependable and resulted in successful intrusions, including the WannaCry attack which threat operators exploited a security vulnerability in the Windows system developed by the NSA and damaged 230,000 global computers. The attack method, however, is quickly falling out of style, and threat operators are increasingly focusing on developing more advanced tactics to propagate sophisticated attack methods for better execution. The following are some of the critical characteristics of modern ransomware:

• Attacks are now “human-operated,” which means they’re customized for the target. The attacks require extensive victim profiling and aid in gaining access to sensitive data and vital backups, making it difficult for victims to recover.
• Threat actors increasingly rely on double extortion strategies in which ransomware encrypts victims’ data and exfiltrates it from networks. The threat operators will threaten to publish the data online or see the data on the dark web, putting victims under pressure to pay the ransom.
• Attacks now encompass multiple group collaborations, including the subscription model for ransomware-as-a-service (RaaS), which involves experienced threat operators attacking targets in exchange for some other service.

The new ransomware attack tactics are common, and their sophistication makes security difficult, if not impossible. The approach has resulted in the execution of several recent well-known ransomware attacks, including Nefilim, REvil, and Darkside.

How Companies Can Best Approach to Modern Ransomware Attacks

When dealing with ransomware, looking beyond educating and directing companies is critical. They must develop a comprehensive security program to focus on technology investments. The following are the best approaches that companies can take to avoid ransomware attacks:

Protecting Endpoints from Modern Ransomware Attacks

The ransomware defense strategy must incorporate endpoint protection platforms, including XDR solutions. By deploying the platform, endpoints get visibility and control. Additionally, regular penetration testing assists companies in identifying weak points and ensuring that all risks are discovered and assessed before they cause any harm. Most XDR platforms also include an incident response workflow to help users quickly identify and respond to malicious activities.

Having a Cyber Kill Chain Model

The faster security teams can identify threat actors during their process, the greater their chances of defending themselves against modern ransomware attacks. Using a cyber kill chain is one effective strategy. The cyber kill chain model entails a sequence of processes that follow the cyberattack stages, from reconnaissance to exfiltration. It’s an efficient way to assist security teams in combating ransomware and other advanced persistent threats (APT).

Zero Trust Architecture

Additionally, companies use the zero-trust method to defend against modern ransomware attacks. Employees provide easy access points for threat actors to companies’ networks. The zero-trust process begins with limiting employee access, using two-factor authentication, and ensuring all users have been authorized and confirmed before accessing any application or network.

Patch Management

Detecting and patching vulnerabilities on time takes vulnerability management to the next level in preventing ransomware attacks. Patch management tools can prioritize vulnerabilities and scan applications, networks, and systems, often using threat feeds.

Ransomware is a prolific attack vector that isn’t going away anytime soon. With the increasing ransomware risks, companies must adhere to strict cybersecurity policies that are routinely updated. Additionally, along with traditional solutions, including strong password policies, enabling 2FA, or implementing data encryption software. Other practical and advanced preventive solutions must also be considered, including endpoint security tools, the cyber kill chain model, zero trust architecture, and vulnerability patch management. It’s also critical for companies to always remain alert to the current threat landscape and regularly update their network security infrastructure annually. Our team of experts will help guide you through the technical aspects of the response. The outline below gives high-level insight into the different stages the engagement will typically go through as companies’ IT operations are restored, and forensics is conducted. Every company should undergo a thorough Pre-Breach Assessment to increase its cyber reliance and defense capabilities. Our detailed Pre-Breach Assessment extends beyond simple compliance and audit checks; we comprehensively examine companies’ security postures.

If your company is experiencing a breach, call our Security Operations Centers at 833.997.7327 to speak directly with an engineer.