Nearly half (45 per cent) of all businesses recognise the serious threat posed by cryptomalware, also known as ransomware; an increase from 37 per cent in 2014. However, despite this rising awareness, cryptomalware attacks continue to hit companies, with the CryptoLocker ransomware, for example, believed to have infected more than 234,000 computers worldwide. That is according to recent research from an IT security product company by B2B International
Cyber-criminals have discovered that the malicious encryption of data, followed by a ransom demand, can be highly profitable. Many companies admit that they often just pay up. The gang behind CryptoLocker is believed to have made $30m in 100 days, while the creators of CryptoWall may have pocketed as much as $325m. Businesses are a tempting target for ransom attack. It doesn’t matter if they are very small or of enterprise size, cryptomalware will find a way in if there is no security to block it, says Kaspersky Lab. Like other forms of malware, it enters a network through emails, malicious attachments or links from a compromised website, which is then opened, downloaded or clicked on by unsuspecting employees. There are no signs to alert a user that they have been infected until they receive the ransom demand.
David Emm, pictured, Principal Security Researcher, Kaspersky Lab, said: “Cryptomalware attacks are profitable and increasingly popular with cyber-criminals. Businesses often pay up without realising that there is no guarantee that their data will be unlocked when they do – and there is new evidence that poorly-coded ransomware can mean some information is never recovered. The best way to protect the company’s data and assets is to implement comprehensive cyber-security measures that cover everything from infrastructure and storage to mobile networks – all accompanied by employee awareness and education. Furthermore it’s essential that data is backed up regularly, so that the company doesn’t find itself in the invidious position of having to choose between paying the ransom or losing data.”
