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The BlackCat ransomware that caused headaches for more than 60 organizations worldwide is now decryptable, thanks to the effort of security researchers.
Yes, you read that correctly. The ransomware, first spotted in the wild in October 2019, can now be decrypted for free.
The threat of ransomware is real and growing. To protect your organization, it’s essential to partner with a Managed Security Service Provider (MSSP) that can help you mitigate the risk. Because there are new ransomware variants and attacks every day, your MSSP must have a robust security program to protect you.
But have you ever thought about what MSSP means precisely? What are their responsibilities in regards to ransomware?
Cybercrimes are more rampant in the year 2022. The rate of cybercrimes is increasing every year, and it is expected to reach its highest next year. It is said that cybercrime affects the security of more than 80% of businesses throughout the world today. It is mainly due to the limited capabilities of authorities in monitoring cyberattacks because this type of crime is performed using the virtual world.
According to the cybersecurity stats, more than half of cyberattacks are done through ransomware attacks. The statistics further stated that healthcare databases are the most targeted because of their importance to businesses. In addition, social media websites are also abused to spread malware and viruses or compromise sensitive information.
Ransomware as a Service (RaaS) is the new and trending business model for ransomware attacks. It’s a decentralized and mostly automated mode of distribution to support the fast-growing demands of ransomware operators.
Currently, the attackers behind ransomware campaigns are constantly looking for ways to maximize profit (and minimize the effort). The RaaS framework can be used by anyone, even without any coding skills, as it provides essential tools to implement encryption and communication with command-and-control servers quickly.
Cybercrimes are growing swiftly in the world of digitalization in both senses; complexity and rate of recurrence. In the idea of being resilient in an impulsive environment, an organization’s cyber security has to be updated with the latest technologies to protect IT Assets and Infrastructure setup. The old school security methodologies cannot be an answer for new-age sophisticated cybercrimes. The organization having a robust cybersecurity resilience strategy in place is a must that enables the continuity of business processes in all situations (before, during, and after a cybersecurity incident).
As per the research conducted by Cybersecurity Ventures in 2021, there will be one company that falls victim to a ransomware attack every 11 seconds.