Cyber Threats: RaaS Attacks 

A contributor to the surge of ransomware attacks is the increase in Ransomware-as-a-Service (RaaS). RaaS is a dark web business model that sells ransomware software to cybercriminals to execute attacks. Recent RaaS incidents include WannaCry, CerberMacRansom, Philadelphia, Atom, Hostman, and FLUX. To help protect your organization, please review the following guidance to learn more about the RaaS model and best practices for protecting your organization. 

RaaS

Ransomware attacks entail a cybercriminal deploying malicious software to compromise a device(s) and demanding a payment be made before restoring the victim’s technology. RaaS enables cybercriminals of practically any skill level to deploy ransomware attacks. In addition to frequency, cybercriminals involved in RaaS models have become more confident in their software, thus motivating them to ramp up their ransom demands.  

Addressing RaaS Concerns

The best way to prevent ransomware attacks is to make prevention and response measures a top priority. Common ransomware attacks derive from phishing emails, deceptive links, dangerous websites, harmful attachments, and malicious programs. Below are some best practices for protecting your organization: 

Secure Systems & Protocols

  • Utilize a virtual private network (VPN) 
  • Install and maintain antivirus software  
  • Implement a firewall 
  • Restrict employees’ access to unsafe websites 
  • Establish email filters 
  • Encrypt sensitive data 
  • Routinely back up information 
  • Limit administrative controls 
  • Develop a cyber incident response plan

Educate Employees 

  • Don’t open or reply to emails from unknown sources 
  • Never click on questionable links or pop-ups 
  • Don’t download attachments or programs from unknown sources 
  • Browse safe and secure websites for work purposes only 
  • Contact your supervisor or the IT department immediately with any suspicious activity
     

Purchase Cyber Insurance Coverage 

  • Designed to address the risks that are inherent to technology 
  • Typically covers costs to investigate and restore your systems after a breach, along with lost income arising from breach-related outages 
  • Most insurance providers partner with ransomware specialists who can advise on the steps required to restore systems after an attack 

 

RBN Can Help 

Contact RBN Insurance to learn more about cyber liability insurance and how you can protect your business from attacks. RBN has worked with many organizations on developing cybersecurity risk management and insurance programs.  

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