Insights

Taking data hostage:

The rise of ransomware

Ransomware incidents have reached epidemic levels across the globe, and we expect the number to increase exponentially. It’s little wonder this type of cyberattack now ranks among the top three biggest cybersecurity concerns of Canadian organizations.

Ransomware, as its name suggests, is malware designed to make a target’s data unusable or to prevent access to computer systems until a ransom is paid, usually in untraceable digital currency. It’s easy, quick, lucrative, and increased interest from criminal organizations has been upping the ante.

Victims are often willing to pay whatever sum is demanded so they can regain control and get back to business. It’s not unlike families being willing to pay kidnappers whatever is required to release their loved ones. Given the parallels in criminal strategy, it’s perhaps not surprising that methods used by teams dealing with human kidnap incidents can be adapted to a cyber environment.

In Taking data hostage: The rise of ransomware, we discuss the similarities between data and human kidnap-and-ransom situations and how leveraging human kidnap and ransom techniques when negotiating with ransomware criminals can help gain time, reduce the ransom amount, and resolve the issue quickly. We also outline techniques and tactics organizations can implement to reduce the chances of a ransomware attack - and what to do if they are successfully breached.

To learn more about ransomware, preventing infiltration, and dealing with a successful attack, read our report: Taking data hostage: The rise of ransomware, or contact us.

 

 

 

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