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Ransomware is evolving to be the #1 Threat

Ransomware is now the most prominent cyber threat faced by businesses and individuals. In 2021, 68.5% of the businesses were affected by ransomware. These figures were the highest in the past three years. As the attacks are just surfacing, 2022 will surely see a rise in ransomware attacks. As we all are approaching 2022, there has been a surge in ransomware attacks by 1000%. Ransomware upsurged during the pandemic as businesses shifted to work-from-home models. To stay ahead of ransomware threats, end-users can invest in threat hunting Solutions.

Ransomware is evolving fast. Period.

In 2021 ransomware heavily attacked the IT & education industries as they had enough data to entice the ransomware gangs.

Threats related to ransomware will grow exponentially, and we have to be ready with our battle shields to combat it. But how can we fight them without knowing their background?

Ransomware is a prominent issue now, but there is progress in protection against them. In this article, we will explain how ransomware will evolve in 2022 and how you can guard yourself against the impending danger.

The evolution of Ransomware: Latest trends in ransomware for 2022

Over the last years, ransomware didn’t only grow in frequency but also in the ways they are attacking. As this year is coming to an end, it’s time that we take a look at how ransomware has evolved to be a threat in 2022. Ransomware will surely become more aggressive and widespread as it will leverage and target mobile and IoT devices. In October 2021, the Microsoft digital defense report stated that ransomware attacks had evolved themselves into human-operated ransomware.

It can’t get any scarier, right?

Here are a few predictions for 2022 that will surely help you to stay one step ahead of cybercriminals.

1. Ransomware-as-a-service (Raas)

The ransomware technology has evolved into a service-based model which allows cybercriminals to attack without specializing code to gain profit from ransomware. This new business model for Raas has invited people from non-technical backgrounds. If you are wondering what on earth is now Raas, then let us throw some light on it.

It is a service that is established within the industry where the operator will lease out their malware creation to other people for a considerable amount. Well, considering its lucrative nature, without a doubt, it is going to be one of the major threats that will totally flourish in 2022.

2. Double extortion

Double extortion is also a business model that has evolved into an effective intelligence operation. In this, the cybercriminals carefully research through the victim’s organization to acquire an optimal ransom demand. Before taking a step in the process, they take an extra initial step made by the criminals to penetrate the victim’s network to extract the financial documents and insurance policies. They also look for any legal penalties for breaches that may affect the organization’s reputation. After evaluating everything, the cybercriminals formulate a ransom demand to deploy the ransomware. The extortion demand will not only include the amount to unlock their system but also to prevent a data leak. This is known as double extortion.

3. Cloud SaaS is the new ransomware target

While discussing the new threats ransomware has posed, it will be completely wrong if we don’t talk about ransomware’s new target cloud SaaS. It is no surprise that ransomware has always targeted the organization’s data, but cloud SaaS ransomware is evolving and will surely become a major threat in the coming years. There are ransomware variants that use phishing emails, scams to lure innocent users. However, now these variants have evolved to use OAuth authorization scams to fool the users into installing a legitimate cloud SaaS which actually is ransomware.

How to stay safe from ransomware attacks in 2022?

These are some ways to stay safe from ransomware attacks.

  • Set up a firewall:

Firewall acts as a secure host that acts as a barrier between the external and internal networks. It is easy to set up a firewall system to prevent outside attacks.

  • Invest in the cyber threat hunting Solutions:

Proactive Threat hunting solutions can protect your organization against ransomware as it searches for cyber threats deep down that might be present in your network.

  • Go for strong password security:

In the absence of a strong password, attackers can easily get into your personal account and make their way into the system. Further, they won’t take a second to access more information.

  • Include periodic data backups in your company plan:

Backups are extremely important as they can help to bypass the ransom demand by restoring all the data from a source other than the encrypted files.

  • Update the patches:

With vulnerabilities in the system, malicious actors can exploit the system. You can ensure that your system is fully protected by taking a vulnerability assessment.

Our Final Verdict

Effectively preparing your organization against the threat of ransomware requires proactive measures. Taking important steps like vulnerability assessment, threat hunting solutions can remediate the cyber threats and enhance your security posture. However, spreading awareness among your staff goes a long way to stay on top of this dynamic threat landscape.

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