How can Cyber Security Help Fight Ransomware?
Ransomware is malicious software that locks data on a user’s computer through encryption, and payment is demanded before the data is decrypted and access is returned. The main motive for ransomware attacks is usually monetary. Unlike other attacks, victims are notified that there has been a breach and given instructions on how to recover their data.
Payment is traditionally completed using virtual currency such as bitcoin to hide the identity of the cybercriminals. As you can imagine, it takes a specially trained person to fight against ransomware. But this cyber security knowledge doesn't come without formal training.
How Ransomware Works
According to CNN tech, ransomware mimics the old crime of kidnapping. A cyber attacker will take something of value from a victim and demand that they pay up to get it back. Ransomware uses a number of vectors to access a computer. These vectors are delivered to the system through phishing. Cybercriminals send attachments to victims in an email that is masqueraded as a file they can trust, and once they have downloaded and opened, the cybercriminals gain access to the victims’ computer.
Some vectors have built-in social engineering tools to trick users into providing administrative access. Other aggressive types of ransomware like NotPetya leave security holes that infect computers without having to trick users.
There are several things that ransomware can do after it has taken over a victim’s computer, but the most common thing is encrypting some or all the user files. These files cannot be decrypted without using a mathematical key that only the attacker knows. Victims are then presented with a message that their files are inaccessible.
How Ransomware Impacts the Society Today
Ransomware attacks have unpleasant consequences to the affected organizations. However, only a few people know that these vectors have threatened the existence of several enterprises and even driven some into bankruptcy. When hit, it’s not just the ransom that can financially affect the business, there is also the time used up in trying to get systems back online, and the revenue lost.
According to a recent report, approximately 22 percent of small businesses with less than 1000 employees have experienced a ransomware attack within the last one year and they had to stop their operations immediately. The report estimated that small businesses lost over $100,000 per incident due to downtime, and in every six companies, one organization experienced a minimum of 25 hours of downtime.
Companies also face heavy fines from the government in case data is breached and then leaked to the public. For example, in the year 2013, Adobe was fined $1 million for a data breach.
Large businesses are also affected by ransomware and have experienced financial losses, especially in the wake of the NotPetya and WannaCry. For example, FedEx’s TNT shipping division was affected by the NotPetya malware. According to FedEx, the cyberattack was materialistic which meant it had a financial impact on the company’s bottom line.
There is a Need for Cybersecurity Experts to Combat Ransomware Attacks
The digital era is here to stay, and technology is playing a major role in connecting us to the world through computers, Internet of Things, mobile technology, the cloud, and machine learning, among many others. All these have created several opportunities and possibilities for professionals, businesses and the society as well as cybercriminals that want to capitalize on vulnerabilities.
As we advance in technology, it’s also important to focus on the mitigation of cybercrime which requires an educated and highly skilled workforce that is ready to fill the several open cybersecurity roles across the nation. The following sobering statistics indicate why:
- In 2015, there were approximately 112 million healthcare cyberattacks.
- In the year 2016, more than 2,600 ransomware complaints were reported to the FBI.
- In 2016, Cisco reported that the number of DDoS attacks had increased by 172 percent and projected that they would continue rising to 3.1 million attacks by the year 2021.
How Formal Education can Help you Master the cybersecurity Skills you Need
You’ve read the news headlines and heard the statistics, and this has increased your interest in a cybersecurity career to help in the war against cybercrime. Some of the skills you could acquire from formal education in cybersecurity include:
Ethical hacking: You will help businesses identify flaws in their cybersecurity before they are hacked through ethical hacking. This means you have to think like a hacker to beat one.
Artificial intelligence: Although artificial intelligence is being used to perform almost all cybersecurity tasks, they can also be used to attack. Therefore, you need to know how to use AI cyber defense systems and be able to analyze millions of programs.
Now more than ever, there is a dire need for skilled cybersecurity professionals to fight cybercrime and protect our digital information. If you want to join the fight, consider earning a Bachelor of Science in Computer and Information Science with a Major in Cyber and Network Security from ECPI University. With accelerated classes and a year-round schedule, you could earn your degree in as little as 2.5 years. For more information, connect with a friendly admissions counselor today.
It could be the Best Decision You Ever Make!
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