As the COVID-19 pandemic continues, businesses are falling victim to ransomware attacks left, right and centre. Small start-ups and big corporations alike have been targeted and held to ransom without prejudice. Hackers are increasingly infiltrating big businesses and their online services, extorting them further for millions in ransom money.
Cybercriminals lately targeted renowned company Canon, stealing over 10 terabytes of the company’s data, according to report. The company hasn’t yet commented on the situation other than the promising to investigate the issue. Some sources have alleged that the attackers have asked Canon for a huge sum of ransom in return for not misusing the stolen data.
In another recent example, Sapiens, an Israel based software firm, was, reportedly, forced to pay a quarter of a million dollars in bitcoin to the hackers who held the company’s systems hostage. Similarly, Garmin was also targeted, infiltrated and held for ransom by cybercriminals for over ten million dollars.
Ransomware Infiltrations During the Coronavirus Pandemic
Cybercrime, especially ransomware, is growing at an unprecedented rate. Ransomware attacks were never uncommon to begin with, but the Covid-19 pandemic has worsened the situation many times over. With the entire corporate workforce going online, newer vulnerabilities have surfaced after most employees started to work from home. Instead of a single point of failure, there are now many more access points for potential hackers.
Phishing is one the biggest method of ransomware attacks out there and that threat has never been as prominent before. While many employees may be prone to being fooled by these phishing attempts, it’s very hard for companies to control the threat and accommodate the security concerns of their workforce.
How to Protect Oneself from Cybercrime
Since over 90% of such cyberattacks’ successes happen due to the limitations of the human being and the fundamental ‘human error,’ it’s safe to say that proper safety training and protocols are the ways forward to defend your business against such cybercrimes.
While companies are good steering clear of online malicious content, it’s difficult to expect that same level of due diligence from employees when they work from the comfort of their home. One of the best ways to combat ransomware threats is to educate employees about the risks of careless internet use and how to identify malicious content.
More ways to help companies fight against cybercrime during the pandemic include supplying employees with certified equipment and anti-malware and anti-virus software, besides making providing them with dedicated network channels for communication, and keeping software fully updated.
Cyber-Security Has Never Been More Vital
Cybercrime has always remained a serious concern for businesses, but the novel coronavirus pandemic has made it unprecedently rampant. Many companies have already been extorted for millions of dollars, and the ransoms are bound to get bigger and bigger with time.
The pandemic is testament to the fact that although allowing more people to work remotely is the most important factor to save lives and prevent the contagion, the loss of precious data could be disastrous in the long run. Companies need to ensure best-practices among their work-force when it comes to online activities because the risks have never been higher.
