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Why Double Extortion Ransomware Attacks Are A Threat That Companies Must Take Seriously | CoverLink insurance



In recent years, ransomware attacks have steadily increased. These incidents – which result in cybercriminals compromising a device or server and requiring a large payment before restoring the technology (as well as all data stored on it) to the victim – are one of the most damaging cyber-attack methods, resulting in an average of $ 1

As these attacks become more common, many ransomware technologies have also emerged. Specifically, dual blackmail ransomware attacks are now a potential cybersecurity issue for organizations across industry boundaries. This technology follows a similar protocol as for a typical ransomware attack, but comes with an extra threat – the victim must pay a ransom not only to regain access to their technology and data but also to prevent data from being uploaded publicly online.

Double blackmailing of ransomware attacks is of particular concern, as these incidents may further pressure organizations to meet password requirements to keep their data private. Review the following guidelines to learn more about how double blackmail ransomware attacks work and what your organization can do to prevent such an attack.

How Double Extortion Ransomware Attacks Work

To outline the general framework for a double extortion ransomware attack, this technique begins like most other ransomware incidents, where a cybercriminal first gains access to the target device or server ̵

1; often via phishing, unprotected websites or malicious attachments. From there, cybercriminals can compromise the victim's technology and encrypt data stored on it. Subsequently, cybercriminals submit their redemption claim and associated consequences for non-compliance.

In contrast to a typical ransomware incident, however, these consequences are twofold. Failure to pay the ransom can lead to a permanent cybercrime restricting the victim's access to their technology and sensitive data, as well as the public sharing of this information on the Internet. Although double blackmail of ransomware attacks can occur in any organization, these incidents are most common in facilities that store a significant amount of sensitive data. This includes healthcare facilities, financial institutions, government organizations and large retail companies.

Double blackmail of ransomware attacks can be significantly more harmful to affected organizations than typical ransomware incidents. This is because even if organizations have protocols in place (such as storing data in multiple secure locations) that allow them to recover their compromised information without paying a ransom, they may still be pressured to do so to prevent that their data is published. After all, a data breach can lead to additional consequences – including reputation for reputation, legislative fines and class actions.

In addition, cybercriminals who carry out double extortion of ransomware attacks are known to demand higher ransom payments, sell or trade stolen data to other attackers for future extortion attempts and still continue to share data publicly even after the ransom has been paid (either it is intentional or accidental) – which makes these attacks all the more harmful.

Prevent Double Blackmail Ransomware Attacks

When it comes to combating double blackmail ransomware attacks, it is important to prioritize standard ransomware prevention measures. This includes conducting routine employee training on how to detect potential ransomware risks (such as suspicious emails or attachments), implementing policies prohibiting browsing unsafe websites on organizational servers or devices, and installing adequate security features on all workplace technologies (eg virtual private network, antivirus software, data encryption software, e-mail spam filter, internet firewall and patch management system).

In addition to these important preventative measures, the best way to reduce the risk of double-clicking ransomware attacks is to establish an effective IT incident response plan for your organization. This plan should explicitly address dual extortion scenarios for ransomware attacks and describe measures that employees should take to limit the damage during such an event.

Finally, it is important to ensure adequate insurance coverage for ultimate peace of mind in a ransomware attack. A dedicated cyber insurance can offer much-needed support and resources when an attack occurs, minimizing potential damage and financial consequences to your organization.

We can help you recover from a ransomware attack

Companies work in an environment where it is not about IF a cyber attack will occur, it's just a matter of when .

We must take reasonable steps to reduce the likelihood of an attack, but we must also be realistic and understand that inevitably we will all deal with a cyber attack at some point.

The two most important questions you need to answer as a business owner are:

  1. Will I know how to answer when a cyber attack occurs?
  2. Will my company survive the devastating consequences of a cyberattack?

The planning you do today, the strategic partnerships you have put in place and the adequacy of your Cyber ​​& Data Crime Insurance [1 9459018] are all important components to answer with certainty the question of " my business will survive after a cyberattack "with a resounding" ABSOLUTELY . "

We understand the negative effects a cyberattack can have on your organization, we have seen first and foremost how it affects customers. We also know which insurance companies offer the widest insurance coverage to help you recover from an attack.

But we do not stay there.

The best place to start with your own internal operations, the security measures you have in place and the checks that are carried out to prevent a data breach.

In addition to covering cyber and data breach liability, we can also offer you several services that help place your business for the best insurance premiums offered by the country's strongest insurance companies. Specifically, we can:

  • Provide you with data security resources designed to protect your data and your network securely
  • Perform a cyber risk assessment of your business to identify vulnerabilities and offer solutions to mitigate exposures
  • Helps you develop and implement a plan of action measures

To learn more about how we can help simply Request a proposal and we will start immediately.


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