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A huge ransomware outbreak had taken place on 12th May ‘17, which affected MNC’s and large organizations globally. This ransomware is known as WannaCry (short for WannaCrypt). It is an extremely dangerous worm as it targets Microsoft’s operating systems, encrypts the data and demands ransom payments in bitcoins. In addition, countries affected the worst are Russia, Ukraine, India and Taiwan. Wannacry has attacked around 2,30,000 computers across 150 countries.

Since 2013, ransomware has become one of the most commonly used form of cyber attacks. Furthermore, the virus has only advanced. With alternative options for payment like Bitcoins, countdown timers etc. coming up, the ransom amount if not paid on time would pose some serious damage to the affected entity. Yet another major issue with ransomware is that even after paying the ransom there is no guarantee that your files will be accessible. Furthermore, falling victim to such a menacing attack could cost you a fortune. Hence, it is advised to keep your data safe, secure and compliant with the rules of IT.

Ransomware

Information is easy to manage with advancements in technology (Big data, IoT, analytics and cloud computing) The data is vulnerable to hacker attacks because of its confinement to virtual systems. It enables them to steal data codes, exchange trade secrets and sell  valuable information in the black market. For corporates and large organizations, giving away their valuable information is not a solution.

Use of Information Technology

Businesses using Information Technology are prone to threats from ransomware. It can affect the existence of the business. Email phishing is a commonly used source of ransomware. Thus, organizations should take steps in order to prevent themselves from such attacks. Hackers prefer trading in Bitcoins as the transactions are completely anonymous. The source of payment cannot be identified easily. The value of the Bitcoin has increased overnight due to the payments made to the attackers.

The organization should be equipped with cyber-security tools to prevent itself from such attacks and data breaches. Therefor, it is important to take basic cyber security  while working in an organization. Such measures  prevent your organization from getting affected to ransomware.

E-Mails and Cyber Attacks

It is advisable to not open emails received from suspicious sources. Hackers mostly rely on email phishing attacks to penetrate the system. By opening such mails and downloading the attachments,  ransomware could enter your system and encrypt your files. Thus, it is always better to not open such emails than being a victim to a dangerous IT attack.

Keep yourself updated with the latest IT security features that are important for your business applications. Hackers can easily affect the Microsoft operating systems with outdated software. Therefore, it is important to download latest windows updates as well as a reliable anti-virus.

 

Ransomware

Hackers are becoming smarter day by day. Hence, file backup is advised to avoid such attacks. This will prevent any kind of future threats and loss of information. Organizations should backup their files by opting for direct-to-cloud solutions. It enables multiple controls and helps them to run numerous scans on their third parties. As a result, they use standard SSL encryption which can ensure data safety, security and easy recover-ability.

Recommendations

A highly recommended practice is to implement cyber security awareness programs and train employees regularly. Thus, employees become aware of the latest hacking tricks and methods. They become capable to avert any potential cyber attack. Organizations have various compliance of their own which secure their private information. It is fundamental for their functioning. It also includes data which can affect them terribly, if lost or copied. Organizations should prevent their systems from getting affected. Also, they should educate themselves with the latest IT techniques and not fall victims to such attacks.

Consequently, to alleviate the ransomware problem, many organizations are using GRC standards. The number of hackers are growing at an exponential rate. Mitigate the risks to overcome the threats!  Meeting your  IT needs by having proper technology in place can aid to secure your organization. This practice can immensely  reduce your vulnerability to such attacks.

VComply provides unlimited and secure cloud storage on its platform. You are assured of data security and safety. Ransomware can easily encrypt files present on your desktop. Thus, in order to keep your information safe it is advisable to adapt to cloud computing!

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