Is Your Organization at Risk? 71% of Companies Have Experienced Ransomware Attacks

By Harish Kumar GS

Ransomware is becoming the new business model for cybercriminals looking to search for funds for their organisation.

In an era where digital threats loom large, a startling 71% of organizations have found themselves besieged by ransomware, with the financial fallout averaging a hefty $4.35 million per breach. This isn’t just a sporadic skirmish in cyberspace; it’s an all-out war against corporate defenses. As businesses scramble to fortify their digital ramparts, the question isn’t just about dealing with ransomware—it’s about understanding why and how it has become such a formidable adversary.

Understanding Ransomware and Its Impacts

Ransomware isn’t just a low-risk intrusion into your systems; it’s a predator holding vital data hostage and demanding a ransom for its release.

The repercussions extend far beyond mere inconvenience. Financial hemorrhage is just the start—operational paralysis, compromised customer trust, and long-term reputational damage are the real specters haunting businesses post-attack. The dreaded ripple effect of a ransomware incursion can echo through every corridor of an organization, leaving a trail of operational and strategic chaos in its wake.

In 2022, India witnessed a 53% increase in ransomware incidents compared to the previous year, as reported by the Indian Computer Emergency Response Team (CERT-In). AIIMS Attack, Telangana and Andhra Pradesh power utility systems attack, UHBVN Ransomware Attack, WannaCry ransomware attack, Mirai Botnet Malware Attack and BSNL Malware Attack were few ransomware attacks in India that have further highlighted the need for a robust strategy.

Addressing this challenge requires more than reactive measures; it necessitates a proactive, layered defense strategy. This includes deploying advanced technology and cultivating a cyber security-aware culture, aimed at thwarting and neutralizing ransomware tactics.

Check Point’s Multi-Layered Ransomware Defense

In the digital battleground against ransomware, Check Point emerges as a vanguard, offering a range of solutions designed to shield every corner of your organization. Picture a security system engineered to anticipate, adapt, and annihilate ransomware threats. At the heart of Check Point’s strategy is a multi-layered defense mechanism, tailored to fortify endpoints, mobile devices, emails, and network perimeters.

Pioneering Endpoint Security

The first line of defense is at the endpoint. Check Point’s Harmony Endpoint deploys runtime protection, standing guard against ransomware attacks even in offline mode. Its Behavioral Guard is designed to effectively detect, block, and remediate any ransomware activity. In the event of an anomaly, Harmony Endpoint quickly identifies and neutralizes the threat, ensuring system integrity and preventing potential damage.

Fortifying the Mobile Frontier

Then there’s the mobile frontier—an area increasingly exploited by cybercriminals. Harmony Mobile steps in as a shield, blocking malicious downloads and scanning for lurking threats in mobile apps. It’s a comprehensive solution, ensuring your mobile workforce remains a bastion of productivity, not a vulnerability.

Safeguarding Digital Communication

Harmony Email & Collaboration uses advanced sandboxing to snare and neutralize ransomware-laden emails before they ever reach an inbox. This barrier extends across productivity apps like Teams, SharePoint, and OneDrive, ensuring that ransomware can’t leapfrog across your organization.

Shielding The Network

Quantum Security Gateways act as a comprehensive defense against external cyber threats. These gateways are not limited to reactive measures; they proactively use advanced AI to identify and halt zero-day threats and phishing attempts.

Best Practices for Ransomware Prevention

The battle against ransomware isn’t just about deploying the right tools; it’s also about cultivating the right habits. Prevention, in the cyber world, is a mix of vigilance, education, and strategic foresight.

Cyber Awareness Training

Train your workforce in cyber security basics, including phishing recognition and password security. To ensure your team remains alert and prepared, it’s vital to keep them updated with the latest developments in cyber security threats.

Regular Data Backups

Implement routine, encrypted backups of key data as a fail-safe. Ensure these backups are tested regularly for reliability and effective restoration.

System Patching

Maintain a disciplined regimen of system updates, focusing on security patches to protect against vulnerabilities. Continually enhance your patch management process.

Robust Endpoint Protection

Employ sophisticated antivirus and antimalware programs like the Check Point suite to ensure ongoing, real-time surveillance and detection of potential threats. Keep these solutions updated to tackle new ransomware and cyber security threats.

Protection is a responsibility

As ransomware evolves into more sophisticated forms, protecting your organization is not just a necessity, it’s a responsibility. Check Point’s whitepaper offers a deep dive into advanced strategies and solutions to shield your network, endpoints, mobile and web browsers, email, and collaboration tools. It’s an invaluable resource for CISOs and security teams committed to staying ahead of cyber threats.

(The author is Harish Kumar GS, Head of Sales, India and SAARC, Check Point Software Technologies, and the views expressed in this article are his own)