As ransomware attacks become increasingly frequent and sophisticated, organisations across all industries are seeking ways to proactively address this looming threat to cybersecurity and business continuity.
While there is no singular solution for guarding against ransomware attacks, the SIEM security model is extremely effective at preventing these malicious acts.
Below, we explore ransomware trends that businesses will contend with in the coming years and outline what role SIEM security will play in mitigating the threat of crippling cyberattacks.
What Is a Ransomware Attack?
A ransomware attack is a specific type of cyberattack that essentially holds the victim’s data ransom using software. This malicious software will threaten to either publish the compromised data or block the owners from accessing it by encrypting it.
Attackers will not release the data unless the owner pays the requested ransom. Organisational leaders often view paying the ransom as the cheapest and most pragmatic solution, since even a few days of downtime can cost an organisation millions of pounds.
How Do Ransomware Attacks Work?
Ransomware can surreptitiously access a computer network through one of many different vectors. However, phishing is a favourite tactic that is widely used in the cybercriminal community.
During a phishing spam, bad actors will send emails to intended victims and include a malicious attachment that is designed to appear legitimate. If the file is downloaded, the ransomware will systematically encrypt the user’s data and prevent them from accessing it.
While phishing is the most common ransomware delivery mechanism, more sophisticated software can exploit vulnerabilities within a network. This type of ransomware is particularly dangerous because it does not require hackers to deceive human users.
After ransomware penetrates a network, the software will encrypt some or all of the victim’s files. Hackers will then reach out and request a ransom.
Ransomware Attack Trends to Be on the Lookout for in 2022
Bad actors are constantly searching for new and innovative ways to carry out ransomware attacks. To help your organisation prepare for emerging ransomware patterns, we have outlined several attack trends to be on the lookout for in 2022:
Attacks on IoT
The Internet of Things (IoT) is the network of internet-connected devices that have become an integral part of our society. Examples include security systems, smart appliances, activity trackers, etc.
Hackers are beginning to target IoT devices, as they are often more vulnerable than laptops, smartphones and similar equipment. These hackers understand that IoT devices are often synced to a victim’s network, which means that malicious actors can use them to access other data by exploiting a single vulnerable device.
Targeting Edge Computing
Edge computing devices provide the support and infrastructure for IoT equipment. Like IoT devices, edge computing solutions tend to be more vulnerable than primary-use equipment. However, these vulnerabilities can be remedied by implementing a robust solution, such as Seagate Lyve edge computing technologies.
Increase in Remote Access Markets
Following a data breach, cybercriminals may sell sensitive information and employee credentials to other bad actors to aid them in the execution of their own ransomware attacks.
These remote access markets have become incredibly popular within the cybercriminal community, which makes them a major threat to businesses and individual consumers alike.
RaaS
Ransomware as a Service (RaaS) is the cybercriminal’s take on Software as a Service (SaaS). As the name suggests, the RaaS market involves the selling of sophisticated ransomware software to other cybercriminals so they can carry out attacks on businesses.
Software focusing on ransomware protection and disaster recovery can be partnered with object storage SaaS like Lyve Cloud to double-down on security efforts. Lyve Cloud is complementary to several storage and backup services and diligently encrypts data both at rest and in flight for immutable cold storage.
What Is SIEM Security?
Security Information and Event Management (SIEM) is a specific cybersecurity model that can be used to prevent ransomware attacks.
This multifaceted cybersecurity strategy includes threat detection solutions, analytics tools and response functions. Cumulatively, these efforts can significantly reduce an organisation’s vulnerability to ransomware attacks while also enhancing its ability to protect business continuity in the event of a breach.
Using SIEM Security to Prevent Ransomware Attacks
The primary strength of the SIEM security model is its proactive threat detection capabilities.
Unlike some other tactics, the SIEM security model leverages a holistic approach to detect ransomware infections during the pre-deployment stage. To accomplish this, SIEM technologies conduct comprehensive network analysis to detect unusual occurrences.
How to Prevent Ransomware Attacks: Best Practices
In addition to leveraging SIEM security, you can also deploy the following best practices to prevent ransomware attacks:
Pair Offline Backups with Cloud Backups
While cloud-based backups offer many distinct benefits, pairing them with offline backups can provide optimised ransomware protection. Offline backups can serve as your last line of defence in the event of a data breach or successful ransomware attack.
Update Recovery Plans and Implementing Training
Since many ransomware attacks are carried out by exploiting human error, it is vital that your staff receives adequate training on cybersecurity best practices.
In addition, you should routinely review your recovery plans and update them if necessary. These plans will serve as your recovery roadmap if a cyberattack is carried out against your organisation.
Use Spam Filtering
Spam filtering tools offer a simple but effective way of guarding against phishing attempts. These tools will take some of the burdens off your staff. However, spam filtering should not be used as a substitute for employee training and education.
Take Advantage of Microsegmentation
Microsegmentation is an advanced cybersecurity principle that involves creating zones within your cloud environment. Using microsegmentation allows your team to isolate various workloads from each other and secure them. By leveraging microsegmentation, you can reduce the reach of ransomware, should it gain access to your network.
Set S3 Policies and Leverage Object Lock
If you organise and store your data using buckets and objects, you can set IAM policies for individual data to customise:
- Who can access certain data
- Who can edit certain data
- Who can delete certain data
Additionally, S3 object lock can add protection on top of custom policies. Object lock can prevent data from being deleted so vital data remains untouched.
Build a Zero-Trust Architecture
Zero-trust architecture utilises robust authentication methods and eliminates the assumption that anything operating within an organisation’s network can be trusted. Modern zero-trust architecture can slow the spread of ransomware and increase an organisation’s ability to isolate it should it penetrate their network.
How Seagate Protects Data Against Security Threats
Lyve Cloud is complementary to existing object storage efforts, providing an intuitive and user-friendly portal through which you can organise, set policies for and easily retrieve data. All data stored in Lyve Cloud uses encryption that is compliant with international data governance regulations, encrypting data both at rest and in transit.
Lyve Cloud supports a usable multicloud environment, backing up data across multiple regions, so data is always accessible in times of need. Seagate’s object storage solution is highly scalable, so your security grows with you. Connect with a Lyve Cloud expert to learn how cloud security supports your enterprise operations.
