Logo CommuniQA Issue 38
May 2017
Logo Swan
Dear Readers,
Greetings from Swan Solutions!
On 12th May 2017, the world witnessed a very different kind of epidemic—the WannaCry ransomware. Arguably the largest cyber-attack in history, it hit more than 3 lakh PCs across 150 countries.
WannaCry was a bolt from the blue for many who thought they had implemented ‘sufficient’ security measures to safeguard their networks and valuable data. Despite having the best possible defence mechanisms, 36 percent organizations were victims of ransomware in the past year, a Sophos survey reveals. And 57 percent said they are more likely to be a ransomware target in 2017!
Organizations have realized that ransomware is not just an over-hyped menace anymore, but a serious threat to their business. Still, how many organizations have fortified their defenses against this cybercrime, so that it can be detected and eliminated before the damage is done? How many have the right business continuity plan in place to restore data and maintain operations?
If research statistics are anything to go by, ransomware is here to stay, and get bigger. WannaCry reminds us that we need to have an effective ransomware response plan, to be able to curb this deadly epidemic.
Tech Trend
To Pay or Not to Pay: The Ransomware Dilemma
To Pay or Not to Pay: The Ransomware Dilemma
Ransomware is an already $1 billion business in 2016, as more number of organizations/individuals succumb to attackers to get their data back. 70 percent of business victims paid the hackers to get their data back, a 2016 IBM study found. Of those who paid, 50 percent paid more than $10,000 and 20 percent paid more than $40,000.
So, should organizations pay the ransom when they detect ransomware and has no other way to get their data back? Security experts have always advised victims against paying a ransom to the criminals, simply because there is no guarantee that you will receive the decryption keys once you pay. Most importantly, many victims who paid the ransom became the repeated targets of the criminals for obvious reasons.
Some organizations remain tight-lipped after an attack, due to the fear of reputational damage. But the ideal step after an attack is to immediately contact the law enforcement. There are various government-led initiatives to help victims in retaining their data.
Ransomware is a serious threat to today’s business, which spiked 6000 percent last year. Organizations should thus invest on proactive prevention methods and implement an incident response & business continuity plan. Companies are now integrating ransomware protection into their data backup strategy to automatically detect and identify ransomware at the first sign of an attack.
Expert Tip
Ransomware: prevention and response
Ransomware: prevention and response
The first step in preventing ransomware attack is workforce awareness. Educate your employees about threats, methods of propagation and test their understanding with simulated phishing emails. Implement the various preventive methods and configure access controls to minimize the possibility of attacks. Back up your data regularly and perform continuous vulnerability assessment tests. Implement your security incident response and business continuity plan. Serious risks need to be taken into consideration before paying the ransom to the criminals. It is always advised to contact law enforcement immediately.
Swan Wins ChannelWorld Premier 100 Honoree 2017
We are happy to inform you that we have been recognized as the 'Premier 100 Honoree 2017' by ChannelWorld at the annual awards function recently held in Mumbai at ITC Maratha on 19th May 2017. This is a proud moment for us and we consider it an endorsement of our beliefs. Thank you for giving us the opportunity to work with you. We could not have been awarded this recognition without your continuous trust and support.
Click here to view our "Premier 100 Honoree 2017' Certificate
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Swan is a 26+ year old, IT infrastructure and facilities management company providing state-of-the-art IT solutions to large and medium enterprises
Swan Solutions & Services (P) Ltd - 404 T-Square, 4th Floor, Saki Vihar Road,
Andheri East, Above Kavish Ford Showroom, Mumbai 400 072;
Tel. 022-28034088 ; Email : enquiry@swansol.com Website : www.swansol.com
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