SMEs believe they are not vulnerable to ransomware attacks mainly due to the fact that they think they are unlikely targets. This is however a dangerous misconception, writes BRIAN TIMPERELY Managing Director and co founder of Turrito Networks.
Over the past year, cyber security experts and analysts have been warning businesses and individuals about the growing threat of ransomware. Ransomware is a type of malicious software designed to block access to a computer system and data until a sum of money is paid (usually in bitcoin). On Friday May 12, all the doomsday predictions of crippling global cyber fraud became a rather frightening reality, as ransomware dubbed ‘WannaCry’ infected 114 000 Windows machines in just 24 hours. The attack quickly spread to over 150 countries, affecting hospitals, interior ministries and major corporations – with hackers demanding US$300 in bitcoin per machine, to unlock encrypted data.
As the global fallout from what has been called the worst ransomware attack in history continues, it provides a stark wake up call for businesses of all sizes to begin to take this threat very seriously….
1. Acknowledge that you are a target
Arguably, SMEs are currently the most vulnerable to ransomware attacks. This is simply because many businesses believe that they are unlikely targets. Indeed, there is a mistaken belief that banks and major multinationals are primarily the ones who have to worry about vicious cyber fraud. This is a dangerous outlook! Cyber criminality, and ransomware in particular, is about volume – it’s a numbers game. Attacks are conducted at random, on mass, and these criminals do not discriminate between size, sector, individuals, business, etc.
Worryingly, most local SMEs are taking a ‘wait and see’ approach to ransomware – and are consequently placing themselves at massive risk. They are just as vulnerable, if not more so, than the bigger corporations and organisations that have very publicly come under attack.
2. Partner with a business Internet provider
On a very practical level, one of the factors currently leaving many SMEs at risk is their choice of Internet providers. All too often, small businesses look to keep costs down by choosing a provider that specialises in consumer solutions – instead of choosing a provider that specialises in business solutions. By opting for cheaper consumer solutions, SMEs do not get the built in security features and support – such as automatic data backup, firewalls, cloud-based systems, etc – that business providers offer. The consequences of this decision can be disastrous. If an SME falls victim to ransomware (or other types of cyber attacks), the costs extend far beyond the initial ransom that has to be paid for the data to be released. The business will experience extended downtime, damaged brand equity and a considerable loss of trust in the marketplace. Added to this, a compromised business tends to overreact to the attack and then overspend on security solutions thereafter.
In reality, guarding against ransomware is both straightforward and relatively inexpensive. It does require, however, partnering with an Internet provider who will take a consultative (as opposed to purely transactional) approach to your business. The right partner will understand both your needs and risks as a business, and then provide solutions that protect your data from day one.
3. Call your provider (today)
Finally, understand that there are no symptoms or warnings that come attached to ransomware. If you are attacked, your data will be held ransom until the fee is paid. No one can unlock the data once it has been encrypted. This means that preventative action is everything. Either take the threat seriously, today, or run the risk of finding a ransomware note splashed across your desktop.
On the other hand, if preventative measures are in place, and your data has been properly backed up by a trustworthy provider, then a ransomware attack need not bother your business at all. You can simply refuse to pay the ransom, and call your provider for support. Your data will be safe, and immediately accessible.
The more businesses and individuals that take this approach, the less powerful and common ransomware attacks will be. Cyber criminals are getting their way because people and businesses have yet to attach real value to their data. But once this connection between money and data has been made, and preventative measures are put in place, ransomware will lose its power.
So call your Internet provider today. There is only one question to ask: Can you assure me my data is safe? If they are not able to help you here, immediately find another provider who can.
Password managers don’t protect you from hackers
Using a password manager to protect yourself online? Research reveals serious weaknesses…
Top password manager products have fundamental flaws that expose the data they are designed to protect, rendering them no more secure than saving passwords in a text file, according to a new study by researchers at Independent Security Evaluators (ISE).
“100 percent of the products that ISE analyzed failed to provide the security to safeguard a user’s passwords as advertised,” says ISE CEO Stephen Bono. “Although password managers provide some utility for storing login/passwords and limit password reuse, these applications are a vulnerable target for the mass collection of this data through malicious hacking campaigns.”
In the new report titled “Under the Hood of Secrets Management,” ISE researchers revealed serious weaknesses with top password managers: 1Password, Dashlane, KeePass and LastPass. ISE examined the underlying functionality of these products on Windows 10 to understand how users’ secrets are stored even when the password manager is locked. More than 60 million individuals 93,000 businesses worldwide rely on password managers. Click here for a copy of the report.
Password managers are marketed as a solution to eliminate the security risks of storing passwords or secrets for applications and browsers in plain text documents. Having previously examined these and other password managers, ISE researchers expected an improved level of security standards preventing malicious credential extraction. Instead ISE found just the opposite.
Click here to read the findings from the report.
MWC: Next generation of inflight connectivity to be unveiled
Next week at Mobile World Congress, the Seamless Air Alliance will reveal progress on its mission towards enabling the next generation of inflight connectivity. This follows a significant start for the Alliance, which has seen membership increase five-fold since the first meeting in June of last year. The Alliance has a new research laboratory setup and continues progress through its three working groups, writing specifications for the technology, requirements, and operations.
These developments represent a huge leap towards the goal of making connectivity as easy and enjoyable in the skies as it is on the ground. Appearing as part of the Airbus stand (Hall 6, stand 6G34), the Seamless Air Alliance will reveal specification topics that have been completed and published to its membership.
“The passenger experience with inflight connectivity remains one of the great technology challenges. From Day One we have been determined to deliver on our mission to bring industries and technologies together to make the inflight internet experience simple to access and a delight to use,” said the Alliance’s Chief Executive Officer, Jack Mandala.
“I have been tremendously encouraged by the enthusiastic and committed response we have seen and the widening areas of expertise we can call upon as more and more companies and organisations continue to join us,” he added.
Announced during MWC 2018, the Seamless Air Alliance has since grown to twenty-three membercompanies with more than one-hundred key personnel from across the membership participating in its three working groups, with numbers continuing to increase.
The Seamless Air Alliance was created by founding members Airbus, Airtel, Delta Air Lines, OneWeb and Sprint, and quickly joined by Air France KLM, Aeromexico, and GOL Linhas Aereas Inteligentes and global technology leaders including Astronics, Collins Aerospace, Comtech, Cyient, iDirect, Inmarsat, Intelsat, Latecoere, Nokia, and Panasonic.
Today, the Alliance is pleased to announce five additional new members: Adaptive Channel, Etihad Airways, GlobalReach Technology, Safran, and SITAONAIR.
“We are extremely pleased to have these companies join and be a part of the companies driving the next generation of connectivity.” said Mr Mandala.
The Seamless Air Alliance will enable travelers boarding any flight, on any airline, anywhere in the world, to use their own devices to automatically connect to the Internet with no complicated login process nor paywall to scramble over.
The Alliance is also announcing the release of a new research study on the economic benefit of standardization on the inflight connectivity market at Mobile World Congress. This report is available for download at https://www.seamlessalliance.com/publications/
The Alliance is moving rapidly towards an expected demonstration of the technology later in 2019 and anticipates massive interest in Barcelona from the whole communications eco-system.