PORTLAND, Ore.--(BUSINESS WIRE)--With the recent surge in ransomware cyber attacks, many organizations are reevaluating their cyber security programs. After a slow growth rate between 9 to 20 percent earlier in 2016, ransomware attacks jumped 159 percent in April, according to Enigma Software.
Travis Smith, a security researcher for Tripwire, a leading global provider of endpoint detection and response, security, compliance and IT operations solutions points out that ransomware allows criminals to monetize cyber crime efforts more efficiently than other tactics; this is a critical factor in the recent tsunami of attacks.
“Monetizing spamware or stolen data requires more time and expertise than ransomware and involves higher risks of being detected by law enforcement,” said Smith. “In addition, the rise of anonymous cryptocurrency, such as Bitcoin, has made it easier than ever for attackers to infect a machine with ransomware. The success of ransomware has made it possible for cyber criminals to make hundreds or thousands of dollars per infection, and they get paid immediately.”
Smith noted that organizations should reevaluate their disaster recovery programs and procedures as part of their ransomware protection plan: “For many organizations, ransom decisions come down to the most cost effective plan of action. If systems and data can be restored quickly from backup with minimal data loss, then not paying a ransom demand is a viable option. However, in order to be confident enough to ignore ransom demands, IT teams need to continually test backups to ensure all critical business data is being captured and that the backups are viable.”
Smith added that having a reliable backup may not be enough to mitigate the threat of ransomware: “Organizations also have to take the next step and verify they can restore critical business systems quickly to minimize downtime and service interruptions. For most security teams, this means they will need to practice – a process that takes both time and resources. However, this investment can pay significant dividends in the event of a ransomware infection. Planning and testing a streamlined backup process can reduce the cost and risk associated with restoring data. If organizations make these investments, ransom demands can become irrelevant.”
Tripwire is a leading provider of endpoint detection and response, security, compliance and IT operations solutions for enterprises, service providers and government agencies. Tripwire solutions are based on high-fidelity asset visibility and deep endpoint intelligence combined with business context; together these solutions integrate and automate security and IT operations. Tripwire’s portfolio of enterprise-class solutions includes configuration and policy management, file integrity monitoring, vulnerability management, log management, and reporting and analytics. Learn more at tripwire.com, get security news, trends and insights at tripwire.com/blog or follow us on Twitter @TripwireInc.