Ransomware is a chronic and growing problem in cybersecurity. It is important that organisations have an understanding of the threat but more importantly properly prepare against an attack. On both counts Australian companies are generally underprepared. The National Institute of Science and Technology (NIST) publishes excellent guides and reports. It’s report 8374 Revision 1, Ransomware Risk Management: A Cybersecurity Framework 2.0 Community Profile, is particularly timely. It is a crucial document that can help organizations bolster their defenses against ransomware threats.
The Abstract provides:
Ransomware is a type of malicious attack where attackers encrypt an organization’s data and demand payment to restore Attackers may also steal an organization’s information and demand an additional payment in return for not disclosing the information to authorities, competitors, or the This Cybersecurity Framework (CSF) 2.0 Community Profile identifies the security objectives from the NIST CSF 0 that support governing management of, identifying, protecting against, detecting, responding to, and recovering from ransomware events. The Profile can be used as a guide to managing the risk of ransomware events. That includes helping to gauge an organization’s level of readiness to counter ransomware threats and to deal with the potential consequences of This Profile can be leveraged in developing a ransomware countermeasure
The Report starts with a very good description of the challenge Ransomware poses when it stated:
Ransomware is a type of malware that encrypts an organization’s data and demands payment as a condition of restoring access to that data. Ransomware can also be used to steal an organization’s information and demand additional payment in return for not disclosing the information to authorities, competitors, or the public. Ransomware events target the organization’s data or critical infrastructure, disrupting or halting operations and posing a dilemma for management: pay the ransom and hope that the attackers keep their word about restoring access and not disclosing data, or do not pay the ransom and attempt to restore operations themselves. The methods ransomware uses to gain access to an organization’s information and systems are common to cyberattacks more broadly, but they are aimed at forcing a ransom to be paid. Techniques used to promulgate ransomware will continue to change as attackers constantly look for new ways to pressure their victims.
Ransomware attacks differ from other cybersecurity events where access may be surreptitiously gained to information such as intellectual property, credit card data, or personally identifiable information and later exfiltrated for monetization. Instead, ransomware threatens an immediate impact on business operations. During a ransomware event, organizations may be afforded little time to mitigate or remediate impact, restore systems, or communicate via necessary business, partner, and public relations channels. For this reason, it is especially critical that organizations be prepared. That includes educating users of cyber systems, response teams, and business decision makers about the importance of – and processes and procedures for – preventing and handling potential compromises before they occur.
Fortunately, organizations can follow recommended steps to prepare for and reduce the potential for successful ransomware attacks. This includes the following: establish, communicate and monitor ransomware risk strategy, expectations and policy; identify and protect critical data, systems, and devices; detect ransomware events as early as possible (preferably before the ransomware is deployed); and prepare to respond to and recover from any ransomware events that do occur. There are many resources available to assist organizations in these efforts. They include information from the National Institute of Standards and Technology (NIST), the Federal Bureau of Investigation (FBI), and the Department of Homeland Security (DHS).
The Report provides Read the rest of this entry »