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New Developments in Ransomware are Potentially Devastating

by | Sep 6, 2021 | MyTek Blog, Security

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While many people assume that cybercriminals only focus on big targets – like giant corporations that will make them the most money – this is not necessarily true. Modern cybercrime has made it so that criminals don’t necessarily care who their targets are. Let’s look into the question: Do cybercriminals target small companies?

In No Uncertain Terms, Ransomware Has Grown More Dangerous

Cybercriminals often take advantage of specific challenges that small and medium-sized businesses frequently face, such as phishing deception and lack of cybersecurity.

When it comes to phishing, cybercriminals bypass the protections that a business might have in place and take advantage of employees in order to get access to the network. One challenge they often prey upon is the lack of communication between business departments. This lack of communication can make it hard for employees to realize they are being scammed or prayed upon. 

Here are some threats they often use:

Automated Threats

Cybercriminals, just like the rest of us, have begun to use automation to their advantage. Instead of manually attacking specific targets, automation makes it easy for them to attack multiple sources with way less effort. 

Avaddon, one ransomware variant, used automation in its ransomware. They did this by listing the companies they infected, with a countdown to when their data will be publicized.

Ransomware as a Service

Cybercrime has become its own industry, with developers and commission-based structures trying to profit off of it. Ransomware as a Service is something available to cybercriminals, making this crime more accessible than it ever has been before.

Layered Extortion

Some ransomware extorts money from their victims in layers. They charge the victims for access to their data and then charge them again so they don’t leak it to the public. Sadly, this approach has evevoled and usually takes place in four parts.

  1. The victim is instructed to pay to get their encrypted data back.
  2. Hackers release the data into the world if the ransom is not paid.
  3. Denial of Service attacks are used to take down the victim’s website.
  4. The cybercriminal alerts the customers, employees, partners and the media so that everyone is aware of the attack.

These tactics have made ransomware much more successful, because who would want that to happen to them.

You Need to Be Ready to Resist Ransomware

MyTek can help you answer the big question: Do cybercriminals target small companies? The answer is yes, and you need to be ready and secure. Call us today to learn more at 623-312-2444.

ABOUT THE AUTHOR

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Tim Tiller, LMSW

 
Tim Tiller, MSW brings a deep service background to his role at Mytek, having graduated from McDonald’s management training program, fresh out of high school, and working his way up through the ranks in the hospitality industry. He has led two prior companies – Multi-Systems Inc., an IT-focused organization providing technology to hospitality companies (where he was named President at age 36), and most recently, as Chief Operating Officer for Jewish Voice Ministries International.

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