Crypto ransomware threats: a growing concern

This post is just to warn our community about some virulent ransomware attacks that are currently circulating. At this point, none of our clients have been affected, but businesses in many industries (including banks, hospitals, and government institutions) have. The fallout has included loss of money, time, reputation, and public trust.

“Locky,” “Robin Hood,” “Bart”….you may or may not have heard their names, but the reality is that these kinds of schemes are increasing, and their targets are more often than not American businesses.

So, how to protect yourself? First, a little background, and then some advice.

What is crypto ransomware?

Crypto ransomware comes under the cover of spam emails that arrive in your inbox. When you, the unwitting recipient, open the attachment included with the suspicious email, the malware rapidly encrypts your data, rendering it inaccessible. From that moment onward, the only way to retrieve your data is to decrypt it with a private key which is available (you guessed it) only after you pay a ransom. If you refuse to pay, the key is destroyed and your data remains forever encrypted.

This is not a position you want to be in. So, here are some thoughts on how to protect yourself…

How to protect yourself from ransomware threats and phishing schemes

There’s no magic bullet that will save you from crypto ransomware threats such as Locky, Robin Hood, or Bart. However, there are common-sense protective measures that you can take, to keep your information safe.

–Check the identity and origin of emails you receive. Do not open emails (and especially email attachments) from senders you don’t recognize.

–Learn to identify and avoid phishing emails. Phishing emails are often disguised as emails from legitimate sources. Confirm the identity of the email sender by checking the sender’s email address, and confirming it is accurate (and not a fake address).

–Keep spam filters tight.

–Keep all software up-to-date.

–Store data offsite (either on the cloud or external drives that are kept offline). In the unfortunate event your data is affected, your information can be restored and you can ignore any ransom demands.

–Schedule daily incremental backups (cloud-based backup software can do that)

Perhaps our most important warning is that every new email should be read with some degree of skepticism. If you are ever in doubt as to an email’s authenticity, it is best to check with your IT team before opening any attachments, and especially before complying with any instructions.

From the scammers’ toolkit: social engineering

Finally, scammers and malware criminals are increasingly using a technique called “social engineering.” This term covers a wide range of ways they attempt to gain your trust and convince you to comply with their instructions. Phishing emails may, for example, include your name, personal information, or the branding of a respected company.

You may have heard of the Microsoft “Tech Support” phone scam which has been aggressively targeting home users. This is an example of social engineering, where the criminal impersonates a Microsoft help desk technician, convincing the victim to allow them to remotely access their computer, download malware and even pay for the service! The wickedness of this scheme is compounded by the degree of complicity required of the victim.

Educate yourself and stay aware

There’s no better time than now to learn about about how to protect yourself and your team from crypto ransomware threats, phishing schemes, and the range of cyber scams that criminals employ in trying to access your information and steal your hard-earned cash.

To read more about the ransomware threats we mention above, here are a few articles that address the topic:

https://arstechnica.com/security/2016/02/locky-crypto-ransomware-rides-in-on-malicious-word-document-macro/

https://www.onthewire.io/new-bart-ransomware-released-by-locky-crew/

More information about the Microsoft “Tech Support” Phone Scam can be found below. Some of these articles are on the older side, but unfortunately the scam still persists, with some variations.

https://support.microsoft.com/en-us/security

https://www.wired.co.uk/article/malwarebytes

LimeTech is a creative tech company with a focus on innovation and adaptive change. We use technical know-how, design skills, and deep experience in entrepreneurship to help companies reach their business goals. Our projects include mobile app development, IT infrastructure planning, and remote work solutions. Get in touch today and find out what we can do for you.