Big business ransomware? SoSecure January

January has almost passed, and how quickly has it gone? Welcome to the first edition of the SoSecure crew in 2023. This month we're talking about the emerging trend of Ransomware-as-a-Service and what you can do to prepare your business for increased attacks. We'll also discuss why we think Intelligent EDR will soon replace traditional antivirus for everyone.??

Ransomware-as-a-service (RaaS)

Ransomware is becoming a big business. Ransomware-as-a-service (RaaS) is a business model in which cybercriminals create and distribute ransomware and then offer it to other criminals to use in exchange for a percentage of the ransom payment.?

It allows those with limited technical skills to participate in the ransomware market. RaaS is usually distributed through underground forums and darknet marketplaces, and the criminals behind the campaigns typically use cryptocurrency to receive payment.?

"Ransomware attacks have become increasingly common in recent years, and RaaS is a significant contributor to the rise in ransomware incidents. Ransomware attacks can cause considerable damage to an organisation's operations, reputation, and revenue, and the trend of RaaS is likely to continue to drive the growth of the ransomware market in 2023."

Euan Stewart, CTO, SoConnect

What can you do to protect your business from ransomware:

1. Regularly back up essential data:?Regularly backing up important data and keeping the backups offline or in a secure location can help to ensure that you can restore the data in the event of a ransomware attack.
2. Keep software and systems updated:?Keeping software and systems updated with the latest security patches can help to prevent known vulnerabilities from being exploited by attackers.
3. Implement a robust endpoint security solution:?Implementing a robust endpoint security solution, such as Endpoint Detection and Response (EDR), can help to detect and respond to ransomware attacks in real time. EDR solutions can also provide visibility and control over endpoint activity and automate incident response tasks.
4. Educate employees:?Educating employees about the dangers of ransomware and how to recognise and avoid it can help to prevent successful attacks. Train your employees to avoid opening suspicious emails, links, or attachments and immediately report any suspicious activity to the IT department.
5. Limit access to sensitive data:?limiting access to sensitive data to only authorised personnel can help to reduce the potential impact of a successful attack.
6. Regular security assessments:?Regularly conduct security assessments to identify vulnerabilities and potential attack vectors and implement mitigation controls.
7. Have an incident response plan:?An incident response plan outlines the steps to be taken in a ransomware attack, which can help minimise the attack's impact and ensure a quick and effective response.
8. Consider Cyber Insurance:?Cyber insurance can help mitigate the financial impact of a ransomware attack and provide access to incident response and recovery services.

It's important to note that no single solution can provide complete protection against ransomware. We recommend a comprehensive security strategy that combines multiple layers of protection.

Why Intelligent EDR is the next step in antivirus

Early on, antivirus always seemed to be an afterthought. We wondered if we really needed Norton while enthusiastically downloading bootleg tracks from LimeWire. But, thankfully, times have changed, and we all got on board the antivirus bandwagon. With an increase in bad actors in recent times, it's become clear that maybe antivirus isn't enough.?

Many experts consider that Endpoint Detection and Response (EDR) should replace traditional antivirus because it provides a more comprehensive approach to security.?

Here are some reasons why:?

1. Advanced threats:?Traditional antivirus solutions are designed to detect and remove known malware, but they may not be able to see and respond to new, unknown, and advanced threats such as zero-day exploits, APTs and ransomware. EDR solutions, on the other hand, are designed to detect and respond to these types of threats in real time by providing visibility and control over all endpoint activity.
2. Visibility: EDR solutions provide more visibility into endpoint activity than traditional antivirus solutions, which allows organisations to detect and respond to security incidents faster and more effectively. EDR solutions can monitor and record all endpoint activity, including user activity, network traffic, and system changes, and provide a detailed forensic analysis of security incidents.
3. Automation: EDR solutions can automate many of the manual tasks associated with incident response, such as collecting and analysing endpoint data, determining the scope of an incident, and isolating affected systems. EDR allows organisations to respond to security incidents faster and more effectively: helping to minimise an incident's impact on operations.
4. Compliance: Many regulations, such as HIPAA, PCI-DSS, and GDPR, require organisations to have visibility and control over endpoint activity to ensure compliance. EDR solutions can provide this visibility and control, which can help organisations meet regulatory requirements.

EDR is becoming more popular than antivirus because it provides a more comprehensive approach to security by providing visibility, automation and control over endpoints, which can detect and respond to advanced threats and help organisations to comply with regulatory requirements.

5 Cyber Security Resolutions?for 2023

Last week we held our first live event of the year, covering cybersecurity trends that could impact us in 2023. We had an interesting discussion about cybersecurity and what businesses need to do to keep safe.

If you missed it, don't worry. You can watch the recording here:?

If you'd like to keep informed about our future events, sign up our mailing list via a form on our website.

That's it for this month, we hope you enjoyed reading and have a very SoSecure 2023!