Ransomware Risks To Be Cognizant Of
- August 28, 2023
- Posted by: admin
- Category: Blog
Ransomware is a type of malware that encrypts a user’s files and demands a ransom payment in exchange for the decryption key. In recent years, it has grown into a significant cybersecurity issue, with both corporations and individuals falling victim to these attacks. However, there are some threats related to ransomware that might be disregarded, therefore it’s critical to be aware of them in order to safeguard your organization and yourself.
Double Extortion One risk that is frequently disregarded is the potential for a “double extortion” attack. In this attack, a perpetrator obtains confidential information, in addition to encrypting the victim’s files, and threatens to disclose the information if the ransom is not paid. This form of assault typically results in the loss of confidential customer or business information. For businesses that handle sensitive data, like healthcare providers or financial institutions, this can be very harmful as regulatory fines and lawsuits typically follow such a disclosure.
Ransomware as a Service
The potential for a “ransomware as a service” (RaaS) assault is another danger that is frequently disregarded. In this form of assault, a perpetrator rents out their ransomware to other bad actors or malicious organizations to launch their own attacks. Due to the malware’s potential for continual evolution, it may be difficult to identify the original attacker and to adequately defend against the attack. The perpetrators in this kind of attack are often less technically skilled yet have access to a potent weapon to inflict harm, thus intensifying the ramifications.
Another danger that is often overlooked is the possibility that the attacker may not provide the decryption key even after the ransom is paid. An attacker may demand a ransom and then disappear, permanently encrypting the victim’s files. It is crucial to remember that paying a ransom just motivates the attackers to carry out more operations of this nature.
It is critical to keep in mind that ransomware attacks can significantly affect an organization’s customers, partners, brand, finances and business operations.
If you would like to learn more about protecting your organization from ransomware attacks, visit our Cybersecurity page.
Talk to the experts at Identity And Access Solutions to see how your organization can implement Cybersecurity to fit your organization’s needs.
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Todd is a recognized IAM and Cloud industry expert who brings over 20 years of experience in managing, advising, architecting, and deploying IGA, Authentication and Authorization, and Cloud solutions and services across IDaaS, SaaS, IaaS, and PaaS. Todd is a frequent speaker on effective risk and security practices at leading industry events. He is responsible for the oversight of CyberSolve’s business segments and for the development of strategic plans to sustain the company’s rapid growth while providing trusted advice to clients across the security and risk spectrum.
Atul has over 20 years of experience in managing, designing and implementing Customer Relationship Management (CRM) and Salesforce integrations. He has acted as a cloud-focused solutions expert in both domestic and international markets. Prior to founding CyberSolve, Atul was a Technical Consulting Director at Salesforce where he demonstrated his strong experience architecting financial services industry solutions. Atul holds a Bachelor of Engineering from Madan Mohan Malaviya University of Technology.
Shub possesses over 15 years of experience in the Identity and Access Management (IAM) industry in pre-Sales and technology architecture roles. Shubham has held various positions with SailPoint, RSA, Saviynt, and Okta. He has extensive Identity and Access Management industry technology and sales experience in both domestic and international markets as well strong knowledge of how Identity and Access Management satisfies Audit and IT compliance issues. Shub holds a 
Rajesh has served Multi-National Corporations and large organizations as a full time Vice President of Finance, Chief Financial Officer and in equivalent roles. In order to fulfill his duties as a CFO he is a Chartered Accountant, holds a Diploma in Information System Audit (DISA certified by the Institute of Chartered Accountants of India), is a Certified SAP Consultant, Certified QuickBooks Professional Advisor, and Zoho Partner with 30+ years of experience in managing Finance, Accounting and ERP Systems for Medium to Large organizations in diverse sectors.
John is an experienced IT executive with extensive business leadership, operations management, project management, technology delivery and consulting skills who spent over two decades with General Electric where he was responsible for all aspects of their Global PIM program, he was also a key member of the security assurance team for the organizations Capital business. John leads the delivery of client services across the business landscape, to include Privileged Access Management, Managed Services, Identity Governance & Administration, Cybersecurity and Cloud Services.
Luis has been facilitating IAM programs for 20+ years. He was the CRO at Clear Skye, which builds identity governance capabilities on the ServiceNow Platform. His prior experience with services companies that deliver real world identity solutions has made him a trusted resource for information security executives that he has the privilege of advising. Luis assists in the management of our global sales organization, driving revenue growth via direct sales, ensuring our customers have the best plan and solution to ensure their IAM investment achieves the lowest TCO while providing the highest ROI.
Amit brings over 15 years of Identity and Access Management (IAM) experience to the organization. He has a proven track record in providing customers with the best of breed Identity and Access Management solutions. He ensures success within all engagements by staying integrated with the customer throughout the engagement whether it is a program, project or managed services and support. Amit acts as a customer champion at all times to ensure the right solution and resources are in place to achieve the right requirements.
James leads the delivery of client services across the Identity, Access, and Authorization landscape. He has delivered projects across a wide range of products including Okta, Ping, ForgeRock, Oracle, Microsoft, Citrix, Imprivata, Radiant Logic, Axiomatics and many others. With the advent of modern cloud services, James has served as the internal cloud architect and administrator for almost 10 years and uses that experience to help users make the best use of it.
As a veteran of the Identity Governance and Administration (IGA) landscape, Tony’s career has spanned from being a hands-on Architect\Engineer on numerous industry-leading IGA solutions to building and managing industry-leading Professional Services delivery teams. Tony brings that vast knowledge to CyberSolve and the teams under his management. In recent years Tony has been instrumental in the migration away from the legacy on-prem Identity Governance & Administration solutions to modern cost-effective cloud products.
Clark is a Channels, Sales and Marketing executive with 40+ years of experience as a direct seller, Executive and Founder. His experience includes services, software and hardware sales to Commercial, Federal, and State/Local/Education entities across US Domestic and International markets. Within the IAM spectrum, Clark spent over 5 years as SailPoint’s Channel Manager, Federal & Healthcare markets. He has developed and managed Partner relationships and strategies globally, and is known for significantly growing the revenue of his partners by building trusted, profitable relationships and business strategies.