Cyber Defense eMagazine December Edition for 2021

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Ransomware has also evolved from those early days, while initially focusing on encryption, it has now moved to triple and even quadruple extortion. The focus of these new attacks is less about encryption, but rather other mechanisms of making money. The typical strategies these gangs employ to make money include. 1. Direct encryption: Encrypt files on the device and display a paywall which requires a cryptocurrency payment before decryption takes place. 2. Data Extortion: Instead of encrypting files, cybercriminals exfiltrate data from the device in the background, sending data to command and control (C2) servers in foreign countries like Russia and China. A small sample of the files are published on the Dark Web as evidence and is available for sale to other third parties. 3. Attack Notification: Prior to launching a cyberattack, ransomware gangs sell the information about a pending attack to third parties who can use the information to short stocks or any other means of making money from this advance notice. 4. Cryptojacking: In addition to stealing data, new ransomware variants also include the ability to mine cryptocurrency and effectively make money by hijacking the CPU of the host device. This allows cyber criminals to make money while avoiding the massive energy costs associated with cryptocurrency mining. Because cryptojacking involves data exfiltration this is often overlooked by traditional security solutions. These new attacks are highly coordinated by well-resourced gangs that have business models and even channel operations like a traditional business. If you want to launch an attack you can contact the gangs directly to license their software and you must provide a percentage of the ransom paid. The one common factor with these new approaches is they all involve some form of data exfiltration. For any of these attacks to be successful data must be exfiltrated from the device. In fact, of the 244 reported ransomware attacks this year, 83.3% threatened to exfiltrate data. New data from Osterman Research reveals that despite significant investment in tools like data loss prevention, organizations still struggle with cyberattacks and the prevention of data exfiltration. In addition, an overwhelming majority of respondents (62%) reported that they have weak confidence in their current solution’s ability to prevent data exfiltration or prevent ransomware (55%). This provides clear evidence that most organizations are missing an important piece in their approach to cybersecurity. Existing technology is ineffective in protecting what has arguably become a business’s most valuable asset, the data itself. It’s clear that more needs to be done to ensure organizations are able to lock down their critical information in the face of mounting attacks. And it’s not just external cyber adversaries that pose a risk. The majority of organizations (59%) lack confidence in their current solutions ability to prevent insiders from exfiltrating data, and nearly half (41%) have experienced an employee’s mistake resulting in data exfiltration. The human element cannot be overlooked when it comes to security – especially in Cyber Defense eMagazine – December 2021 Edition 94 Copyright © 2021, Cyber Defense Magazine. All rights reserved worldwide.
the wake of the pandemic where the blurred lines between corporate and personal lives leaves critical assets more vulnerable than ever before. The consequences of having inadequate tools can be catastrophic, with companies’ sensitive data becoming compromised and their reputation often being damaged irreparably. For companies that are hit by a ransomware attack consumer trust is often severely impacted, with 23% of consumers reporting they would stop doing business with a company that paid a ransom, and 48% indicating it was a great concern and they would seriously consider stopping business with the company entirely. It is therefore critical to have both a data protection strategy and the tools in place for anti data exfiltration the new holy grail in cyberattack prevention. About the Author Dr. Williams is a serial entrepreneur and founder of several tech startups, most recently BlackFog, which has pioneered Anti Data Exfiltration (ADX) in the fight against cybercrime. Dr. Williams holds a Ph.D. and Bachelor of Science with Honors from the University of Melbourne. Cyber Defense eMagazine – December 2021 Edition 95 Copyright © 2021, Cyber Defense Magazine. All rights reserved worldwide.
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How Do You Secure the Modern Supply
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Cyber Defense eMagazine - December
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With over 4 billion users, social m
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Unsecure Mobile Networks When using
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CyberDefense.TV now has 200 hotseat
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Books by our Publisher: https://www
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