6 Vicious Ransomware Threats that can Damage Businesses

Malware threats are constantly evolving and becoming more dangerous every passing day, making it more difficult to protect your data. One type of malware threat is ransomware, which has plagued and caused severe damage to businesses for a long time.

Ransomware is a type of malware that threatens to block access to your computer data by encrypting it until you pay a ransom fee. Essentially, hackers will have full access to your business information, while you’re completely locked out of your infected computer.

There are several variations of ransomware threats that can negatively impact your business, and you need to be aware of them at all times to keep daily operations running smoothly.

In this article, we’ve put together a list of different types of ransomware threats that your business needs to avoid to keep your data protected.

Let’s get started.

1. Clop Ransomware

Clop is one of the most dangerous ransomware; it encrypts your files until you pay money to the hackers. It’s a variant of the CryptoMix ransomware and is often known to target Windows users.

What’s more, Clop can block over 600 processes and disable several Windows 10 applications, like Windows Defender. This means you won’t have any opportunity to secure your data.

Clop has been involved in multiple high-profile attacks and is continuously evolving with more sophisticated tactics. To steer clear of this ransomware threat, ensure your systems are regularly updated and monitored, while backing up your data with a secure disaster recovery strategy in place.

2. Fake Windows Updates

Cybercriminals often send emails posing as urgent Windows OS updates, tricking users into downloading malicious attachments disguised as legitimate updates.

The ransomware in these emails is termed “Cyborg”, and it can encrypt all of your files and programs without your knowledge.

Basic antivirus software can’t detect and block these types of phishing emails. Therefore, you need one with proper internet security to protect you from these attacks.

You can rely on IT experts who have the knowledge and experience to deal with such issues. They can help you to protect your data at all times and vigilantly monitor your IT infrastructure for any worrying trends.

3. Ransomware as a Service

Ransomware as a service (RaaS) has gained popularity over the years in the hacking community. This is a type of service where people who don’t know how to execute proper ransomware attacks hire hackers to attack other computers.

It’s a dangerous threat for businesses that have several rivals with bad intentions. 

The RaaS industry is also growing rapidly, showing how easy it can be to infect businesses, despite the attackers having no previous knowledge.

To reduce your risk, it’s essential to implement strong access controls, train your employees, implement robust endpoint protection, and regularly back up your data to secure, offline locations.

4. NotPetya

Many consider this ransomware software as one of the most dangerous malware attacks on the internet. This is because it has a record of infecting the master boot record of a Windows-based system, leaving users with no way to access their account.

Moreover, it demands payment in Bitcoin to undo any damage done by them to your computer. It’s known to be a wiper and in many cases, you can’t make changes to the master boot record, making the system unrecoverable.

5. Bad Rabbit

Bad Rabbit is a virus that spreads as a result of downloading a fake Flash player update. The virus attacks the system with a drive and prevents users from accessing any data until they pay money to the hackers. Only when the money is paid does it decrypt the data and give users back their business information. 

This ransomware shares similar code and exploits with NotPetya, and when it was used, it mainly targeted media companies in Russia and Ukraine.

6.WannaCry

WannaCry was designed to exploit a security vulnerability in Windows OS and affected over 230,000 computers worldwide. What’s more, this ransomware attack affected businesses in 150 countries in 2017. This led to businesses collectively losing millions of pounds from data breaches.

One of the worst-affected places by this ransomware attack was the NHS hospitals in the UK, causing damage worth 92 million pounds. The main reason behind this was that their computer systems weren’t updated regularly.

WannaCry only affected outdated systems, as the hacker exploited an operating system issue that was fixed way before these attacks took place. While being attacked by WannaCry, you can’t access your system until you pay the ransom in Bitcoin.

Contact Redpalm for Robust Cyber Security Solutions

Now that you’re aware of the different types of ransomware attacks that your business could face, it’s time to protect yourself by strengthening your existing security and IT infrastructure.

Redpalm is a managed service provider (MSP) and a trusted cybersecurity partner. We equip your business with advanced IT infrastructure to swiftly identify and neutralise any security risks.

Our wide range of services includes IT audits and health checks, technology procurement, vulnerability assessments, endpoint management, and more.

To learn more about our managed IT services, click here or contact us to schedule an appointment today.