The Rules of Ransomware Negotiation

If your company has been hit by a ransomware attack, it's crucial to take a minute to gather your thoughts and stay calm. While it's natural to feel overwhelmed or anxious, maintaining composure and focus will be essential for effectively managing the situation and making wise decisions for your company.

What to do right away if a ransomware assault occurs

If a ransomware attack hits your company, taking prompt action is essential. Here are some steps you can take right away:

• Disconnect the affected devices from the network as soon as possible. This can help limit the ransomware's ability to spread to other computers or devices.
• Determine which data has been impacted and assess the damage.
• Identify the specific type of ransomware virus that has infected your devices in order to understand how it works and what steps you need to take to remove it.
• Notify all employees about the ransomware threat and provide clear instructions not to open or click on any suspicious files or links.
• Consider reporting the attack, as this can help raise awareness and prevent similar incidents in the future. Keep in mind that in some jurisdictions, it may be legally required for company owners to report a cyber attack.

Avoid making hasty decisions. Instead, take the time to carefully consider your options and the potential consequences of each before deciding whether to pay the ransom or explore alternative solutions.

Paying the ransom should not be your only option. Look into other solutions, such as restoring your data from backups. In some cases, cybersecurity experts may be able to help you recover your data, as many ransomware strains have been decrypted, and the keys are publicly available. However, if you don't have backups, seeking professional help may be your best option.

Methods used by cybercriminals to quickly extort money from victims

In addition to data encryption, cyber extortionists use various tactics, including post-exploitation blackmail, to coerce victims into paying the ransom. These criminals often employ multiple extortion techniques simultaneously. Some examples of these strategies include:

Take and reveal

Cyber extortionists often steal information from their victims in addition to encrypting data. If the ransom is not paid, the attackers may publish the stolen files on specialized websites, causing serious harm to the victim's reputation and increasing the likelihood of giving in to the criminals' demands.

Attackers may threaten to delete decryption keys if a negotiating firm steps in.

In some instances, cybercriminals may threaten to destroy the secret decryption keys necessary to recover a victim's data if a negotiating firm is involved in the ransomware negotiation process.

Start a DDoS assault.

Ransomware attackers often threaten to launch a DDoS (distributed denial of service) attack on the victim's website in an attempt to bring it down and force the affected business to pay the ransom more quickly.

Take control of printers.

In some cases, hackers can take control of printers and use them to print ransom letters, which can raise awareness of the attack as it may be difficult for individuals to ignore the printed messages, particularly if they are in front of business partners or clients.

Utilize Facebook advertisements for evil.

Hackers have been known to use advertising to expose their victims' weak security and humiliate them. In one instance, criminals used Facebook advertising to draw attention to their extortion tactics.

Create fear among consumers.

Ransomware authors may send threatening emails to clients of well-known corporations whose data was stolen. These emails often contain threats to reveal the recipients' personal information if the afflicted organization doesn't pay the ransom. Attackers may also advise victims to pressure the impacted businesses to provide the money quickly.

Avoid attempting to tackle the matter by yourself.

Although ransomware attacks are widespread, not all cybercriminals successfully collect ransom payments. In response, they are constantly devising new extortion tactics to add to their arsenal.

To make it more difficult for hackers, it's important to seek help from reliable sources instead of acting alone. Don't hesitate to reach out to experts, even if it means losing some or all of your data. Numerous institutions and services provide professional support and guidance, including:

Cybersecurity experts

They can provide specialized knowledge, help with data recovery, and offer guidance on preventing future attacks.

Computer emergency response teams (CERTs)

These organizations help respond to and recover from cyber events, such as ransomware attacks, in various countries and regions.

How to stop ransomware assaults

To prevent becoming a victim of ransomware, it's important to focus on taking preventative measures. Here are some tips for doing so:

• One way to prevent ransomware attacks is to implement a comprehensive cybersecurity strategy. This includes using up-to-date security software and regularly upgrading software to address any vulnerabilities. Taking these preventative measures can significantly reduce the risk of falling victim to ransomware attacks.
• Educating your staff on how to avoid becoming a victim is crucial by emphasizing the importance of not opening attachments or clicking on links from unknown sources. This can be achieved through regular training and awareness programs that promote safe online behaviour.
• It's crucial to maintain backups and create a disaster recovery plan to ensure data retrieval in case of encryption. These measures can help minimize the impact of a ransomware attack and increase the likelihood of recovering data.
• Consider implementing multi-factor authentication (MFA) wherever possible and create strong, unique passwords to enhance the security of your accounts.
• Consider obtaining cybersecurity insurance to protect your business against financial losses resulting from a ransomware attack. This can provide peace of mind and help cover the costs of recovery and remediation.