Read below and learn the 5 most common types of ransomware attacks against businesses
Burgeoning digital technology has led cybercriminals to develop innovative ways to con their targets. Ransomware attacks are one of the most advanced strategies used by attackers to infect the computers and devices of business organizations. This article is a comprehensive guide to the common ransomware attacks launched against businesses.
What Is Ransomware?
- Ransomware is a malware attack that prevents the victims from using their devices and data. This is typically done by encryption of data on the victim’s device. Malicious email attachments, infected software apps, and compromised websites are some ways attackers spread such threats.
These attacks are designed to lock users’ access to their system until a hefty ransom is paid, usually in virtual currency. In 2021 the average amount of ransomware transactions was $102.3 per month.
Types of ransomware attacks
- Over the past few years, cyberattacks have evolved in terms of nature and sophistication. The innovation brought in by the attackers has led to double- or triple-extortion ransomware and ransomware-as-a-service.
Let’s look at the common types of ransomware attacks.
- Locker ransomware is one of the common types of attacks in which the users are locked out of their systems. The victims can only view and interact with the lock screen or the screen containing the demanded ransom. The mouse and keyboard are partially enabled to pay the ransom to the attackers. A timer with a deadline is usually displayed to threaten the victim to pay up the ransom on time.
- In crypto attacks, the information, files, and other data on the victims’ devices are encrypted. In this type of attack, users can view the data and use the system. However, they cannot access their data until they make the payment in the form of ransom. If the users fail to pay the ransom, all the encrypted data is permanently deleted.
- As the name indicates, the purpose of a scareware attack is to scare its victims by displaying an alarming message that tricks them into downloading malware. Prompts that look legitimate are often used, and as a result, users act fast without thinking or analyzing the information.
This is usually done in the form of a popup, a warning message, or a false button that says, ‘Speed up your PC now’ or ‘Attackers can see your IP,’ etc. The ransomware is enabled in the system as soon as the users take the bait.
Ransomware As a Service (RaaS)
- In ransomware as a service, the attackers use a SaaS-like business model to execute ransomware attacks on their victim’s device. It acts like an affiliate network and urges victims to subscribe to RaaS and launch a ransomware attack. In these types of attacks, cybercriminals target users with low technical knowledge.
A percentage of the ransomware payment is given to the members of the affiliate. One of the primary reasons behind the significant increases in ransomware attacks is the RaaS model. RaaS eliminates the barriers of prerequisite coding knowledge, thus making it easier to launch the attack.
- Instead of destroying the data, the attackers threaten to release the victim’s data on public domains. Leakware attacks target banks and other nationalized organizations with confidential or sensitive data.
If you are interested in protecting your business or company from many cyber security threats, you can call Micro Strategies at their toll-free number, 888-467-6588. We are a company that specializes in business, IT, and security solutions. We are located in New Jersey, Pennsylvania, New England, and New York. Our team will assess your business and recommend a fantastic plan that best meets your business needs.