Ransomware attacks continue to pose a significant threat to organizations, with an alarming number of them falling victim to these attacks. According to the Fortinet 2023 Global Ransomware Report, two-thirds of organizations were targeted by ransomware, and 50% of them experienced a successful attack. The volume of ransomware attacks also grew by 16% compared to the previous six-month period, as reported by the FortiGuard Labs 2H 2022 Threat Landscape Report.
These statistics highlight the effectiveness of ransomware and the need for organizations to be proactive in defending against this evolving threat. One significant factor contributing to the rise of ransomware attacks is the emergence of Ransomware-as-a-Service (RaaS), which allows even novice cybercriminals to launch sophisticated attacks and receive quick payouts if successful.
To effectively combat ransomware, organizations must assess and prioritize their technology, processes, and people. Implementing the right technological tools is crucial in preventing ransomware attacks. The seven most important technologies identified in the 2023 Global Ransomware Survey are Internet-of-Things (IoT) protection, next-generation firewalls (NGFWs), secure access service edge (SASE) solutions, cloud workload protection (CWP), endpoint detection and response (EDR), zero-trust network access (ZTNA) principles, policies, and tools, and secure email gateways (SEGs).
Additionally, organizations should establish secure backup procedures and solutions that are resistant to compromise by ransomware attacks. It is essential to regularly test these backup systems to ensure the prompt and reliable recovery of data in the event of an attack.
Updating processes and creating an incident response (IR) plan is another critical aspect of ransomware defense. Organizations need to have a well-defined IR plan that includes specific countermeasures against ransomware threats. Seeking expert guidance from third-party vendors like Fortinet can provide an objective evaluation of an organization’s plan and offer recommendations for improvement.
Furthermore, addressing ransomware should be a key concern for executives and boards of directors. Establishing effective communication channels with leadership and involving them in the escalation and decision-making processes during a ransomware incident is vital.
Training plays a crucial role in reducing the risks associated with ransomware attacks. Security teams should receive comprehensive training on mitigating and responding to ransomware threats before they occur. Tabletop exercises that simulate ransomware scenarios can help prepare teams for real-life situations. Several organizations and associations, such as the SANS Institute, ISACA, and the Cloud Security Alliance, offer cybersecurity training programs. Additionally, organizations can take advantage of free training provided by vendors like Fortinet.
Security awareness training should extend beyond security teams and involve all employees within the organization. It is essential to assess the effectiveness of existing security awareness programs in changing employee behavior and reducing risk. Employees should be educated on cybersecurity principles, psychological approaches used by fraudsters, and current real-world examples of threats. They should also be trained on the multi-channel approaches used by threat actors and the evolving nature of AI-enabled attacks.
Regular testing of employees through simulations, such as phishing, vishing, and smishing, can help them recognize and avoid complex and convincing threats. While changing behavior is challenging, having a workforce that is knowledgeable about cybersecurity is more crucial than ever.
Although ransomware remains a rampant threat, organizations can seek help from third-party advisors like Fortinet to assess their current readiness and receive independent evaluations. It is necessary to ensure that the organization has adequate staffing levels and the right expertise to effectively mitigate a ransomware incident.
By partnering with vendors like Fortinet, organizations can address cybersecurity risks comprehensively. Fortinet offers cybersecurity solutions powered by machine learning and AI, integrated into its Security Fabric platform. The platform provides prevention, detection, and response capabilities to protect enterprises against ransomware attacks throughout the entire cyber kill chain. Additionally, Fortinet’s services can help assess operational readiness and train team members to respond effectively to ransomware incidents.
It is crucial for organizations to prioritize technology, processes, and people to reduce the likelihood of falling victim to ransomware attacks. By proactively implementing preventive measures, updating processes, and providing comprehensive training, organizations can strengthen their defenses against ransomware and minimize the potential impact of attacks.