Traditional IT is no longer viable and the realities of a connected cloud infested world are not only exciting, they are also enticing and fraught with vagaries, challenging dilemmas and significant risks with an endless amount of opportunities when leveraged in an innovative manner. Cybercrime, generally speaking, is on the rise just as the need to leverage digital forms of marketing, sales, e-commerce portals and data processing is on a significant upward trajectory from an economic and business perspectives. Just as data is the new currency, Ransomware is the new normal of digital exploit as the spectre of ransomware is no longer looming; it is here to stay.
While this can be prevented or controlled to a large extent, the majority of the challenges has to do with the lack of a comprehensive holistic program that is risk, prevention, business focus and security based as opposed to just a compliance effort. Any business that still have not realized that Cyber, Information Security or IT Security based on anyone’s point of reference could pose an existential threat to its business, really need to wake up.
Ransomware has been in criminal vogue for several years but is rapidly gaining momentum and would also become the norm and form of extortion to fund terrorism, extremism and other forms of radical mayhem or just pure economic enterprise. In the most simplistic manner, in addition to other vectors, Ransomware is usually perpetrated via a spear phishing manner which is delivered through an email that purportedly looks like it is from an authoritative source within an enterprise from a higher up such as the CFO/CEO directing some action on the staff to be carried out and usually with some urgency. At some point, someone will click on that link or open the e-mail which triggers an action or multiple actions that initiate the remote control of that enterprise by taking over passwords and systems in a surreptitious manner. No one is immune. From a high level, thanks to David letterman, below are ten critical thoughts that should be top of mind when considering what ransom ware is, the potential impact and some of the things to do as a precautionary method:
Top ten things that you need to understand about Ransomware:
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