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Damages for malicious ransomware extortion

Latest Update: 24/11/2023

Damages for malicious ransomware extortion

Ransomware is a type of malware that targets Windows computers and mobile platforms such as Google’s Android and Apple’s iOS.

Ransomware is now a pain for internet users. This is malicious code that tends to infiltrate users’ devices and encrypt their data for ransom.

In the article below, we want to share with readers the damage of global businesses due to rampant Ransomware attacks in recent times. Besides, are network security solutions for businesses.

1. Damage from Ransomware

The recent ransomware attack that closed 800 stores of the Coop supermarket chain in Sweden is just one of a series of cyberattacks targeting US agencies, organizations, and companies that are currently operating in the US. dominate the front page of newspapers in recent times. According to Business Insider, cybersecurity experts warn that these types of attacks are on the rise and could spread throughout global supply chains.

Most recently, the ransomware attack on American technology company Kaseya affected about 800-1500 businesses around the world. Affected subjects are mainly small businesses such as dental clinics and accounting offices. The hacker group requested $70 million to recover all the data of the affected businesses.

Mr. Fred Voccola, CEO of Kaseya, said: “The level of sophistication is increasing and they can perform blackmail without too much fear of being caught by existing anonymous currencies. For example, if demanded a hundred thousand dollars in ransom to be transferred to an account at JP Morgan Chase, the FBI will find them immediately. But if you put money in an electronic wallet, the hacker is completely free.”

According to experts, what is worrisome is that recent attacks are increasingly bold and target larger-scale objects. Once the technology supply chains of the victim companies are affected, the damage will spread to many other companies, which is the most worrying consequence.

Mr. Robert M.Lee, Chief Executive Officer of Cybersecurity Firm Dragos, said: “If you are a small and medium-sized business, you also need to be prepared for attacks like this. There needs to be better awareness. and policy discussions when using cloud computing services”.

In just the first half of this year, cyberattacks large and small are spreading around the world. Right in May, there were two major attacks, one on Colonial Pipeline - an oil pipeline operator on the East Coast of the United States and caused gasoline shortages and fuel price hikes lasting a week. Second, is JBS USA - the world’s largest meat supplier, causing the company to suspend operations at 10 factories globally.

Cyberattacks using malicious code are usually carried out in an encrypted manner to isolate data in the system and demand ransom from the victim. According to cybersecurity firm Emsisoft, hackers may have earned around $18 billion of this type of ransom last year.

2. How does ransomware infect businesses?

Ransomware can infiltrate a user’s computer in many ways. It could be when they download cracked software, click on ads, visit fake websites, etc. But most ransomware infections are believed to come from spam emails, fake emails, or phishing emails… Specifically as follows:

  • Hackers can send malicious files attached to emails, when the user activates the attachment in the email, it will infect the computer with malicious code.

  • Hackers can also send emails or electronic messages containing links to software spoofed by Ransomware malware and trick users who visit this link to unintentionally install malicious code on their computers.

3. Security solutions for businesses

To avoid cyberattacks with increasingly sophisticated ransomware, businesses need a comprehensive email security approach.

Mail Gateway SECU E Cloud of VNETWORK is an international security standard email security product. This platform gathers many features with smart filters: Spam GUARD, Receive GUARD, Send GUARD, which will bring absolute safety to your employees.

SECU E Cloud helps control the entire email flow in and out of the business with AI technology, checking from the beginning to the end, throughout the journey of sending and receiving emails. The email security system includes the following steps:

Step 1 : Check spam email screening. Prevent spam emails, promotional emails from reaching the business’s mail system.

Step 2 : Detect virus mail, malicious mail. Ensure maximum safety for your employees from Malicious Attachments and dangerous URLs.

Step 3 : Detect new ransomware, targeted malicious code such as APT, BEC.

Step 4 : Detect impersonation emails, phishing emails, domain name spoofing that are indistinguishable to the naked eye.

This filter system helps your employees focus better, and not be bothered by countless advertising emails, spam emails containing dangerous elements.

In addition, it eliminates business attacks via email, puts an end to all user worries, and prevents business losses due to phishing emails impersonating customers, partners, etc.

VNETWORK’s Mail Gateway SECU E Cloud Firewall can be easily integrated on many other email systems because it is built on the Cloud platform, which is very convenient for users.

4. A dvice

While cybercriminals are constantly changing and evolving their operating patterns, it’s up to you and your employees to raise security awareness in the cyber environment. Absolutely do not click on suspicious links even though they are sent from acquaintances (because their accounts may have been taken over by hackers or automatically distributed links containing malicious code).

In short, if you are not sure about the emails you receive, do not open them at all.

In case, if you have any problems related to ransomware via email. Please contact VNETWORK immediately at HL: (028) 7306 8789 for support.

Experience email security for business today.

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