With digitization emerging as the key for the progression of any industry today, the threats posed by ransomware and phishing attacks are on the rise. Ransomware is malicious software designed to encrypt and seize the vital data of an organization or entity. This critical data is only decrypted in exchange for a ransom. Ransomware is a global threat that impedes the smooth functioning of a business, and the threat is further exacerbated by the sensitivity of the information at stake..
Cyber threats are not limited to private enterprises; government-oriented organizations are equally vulnerable targets. On obtaining access to any operating system, any malware can easily encrypt the victim’s files. This is further complicated by the growing sophistication of modern encryption techniques, making it extremely difficult to retrieve encrypted files without a decryption key.
Now, as the ransomware host is the only person with access to this key, the victim is forced to pay the ransom in return for the key and release the information withheld by the malware operator. In such cases, the losses incurred are not just limited to the ransom amount but also include the cost of fixing the compromised system, business operations being brought to a sudden standstill, and the urgent need to install further anti-malware to tighten the security.
As we step into the New Year, here are few tips to safeguard oneself from the ever-increasing threat of ransomware:
To counter the catastrophic outcome of a cyber attack, having a cyber risk insurance plan is the need of the hour for businesses. Without a dedicated cyber policy, recovering from the results of a cyberattack, such as business disruption, loss of revenue, and reputational damage, can prove expensive and time consuming. Organizations are also advised to develop a comprehensive cybersecurity roadmap, besides designing and testing a business continuity and an incident response plan.
Cyble, a cybersecurity services provider, empowers its clients with darkweb and cybercrime monitoring capabilities to discover vulnerabilities in their digital footprint to help them effectively combat emerging potential cyber threats – even in the early stages of the development of cybercrime.
Cyble’s core product, Cyble Vision, equips organizations with detailed analyses on data leaks, potential cyber threats, and malware, besides aiding them with actionable intel and a real-time view of the threat landscape. Instead of last-minute alerts, Cyble notifies its clients of potential threats way before they can cause damage. These massive repositories of internet-wide data collected and indexed from the deep, dark, and surface web help enrich the actionable threat intelligence Cyble shares with clients.
Cyble is a global threat intelligence SaaS provider that helps enterprises protect themselves from cybercrimes and exposure in the surface web, deepweb, and darkweb. Its prime focus is to provide organisations with real-time visibility to their digital risk footprint. Backed by Blackbird Ventures, Xoogler and Y Combinator as part of the 2021 winter cohort, Cyble has also been recognised by Forbes as one of the top 20 Best Cybersecurity Start-ups, along with several other industry recognitions. Headquartered in Georgia, United States and with offices in Dubai, Australia, Singapore, and India, Cyble has a global presence. To learn more about Cyble, visit www.cyble.com.
Medha Roy Chowdhury
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