Ransomware emails: How to identify and steer clear of them

Ransomware attacks have suddenly become more prevalent. Each year sees more of them. Hospitals, NPOs, shipping giants, etc., have all been victims of ransomware attacks. Your business could be too! Did you know that emails are one of the most common gateways for ransomware to get into your systems? In this blog, we tell you how you can stay safe by following a few tips.

If you think something is amiss, it probably is

Does that email seem unfamiliar? As though you weren’t meant to get it, or it doesn’t quite sound like your colleague wrote it? Perhaps it’s not. Malicious email senders often try to mask actual email IDs with something similar. For example: An email you believe to have come from billing@yourvendor.com might actually be from billing@yourvemdor.com. So take a good look at the email ID if you spot something ‘phishy’.

Attachments and form fills

Does the email contain an attachment that you are being asked to save to your computer? Or an executable file that you are asked to run? Perhaps you are asked to submit your personal details at an authentic looking website. Before you do any of these, check the authenticity of the email and the message. Were you supposed to receive it? Were you expecting an attachment? You might even want to call the sender and confirm if you are unsure.

The message seems to instill fear or a sense of urgency

Often, malicious email messages urge you to take immediate action. You may be asked to log onto your ‘banking website’ ASAP to prevent your bank account from being frozen, or enter your ITR details onto a webpage to avoid being fined by the IRS. Real messages from your bank or the IRS will never force or hurry you to do something.

Other things you can do

Regular data backups

Conduct regular data backups so that in the eventuality of a ransomware attack, you don’t lose your data. Cybercriminals having access to your data is bad enough–it damages your brand and business reputation and can even attract lawsuits from parties whose personal information has been compromised, but, not being able to retrieve all that data in the aftermath of an attack is even worse. Regular backups help you in that regard, plus when you have a pretty recent data backup you are not reduced to the state of helplessness where you HAVE to pay the ransom to retrieve your data.

Install an anti-malware tool

Last, but not least, invest in anti-malware tools that can detect malware attacks and alert you before you fall prey to them. Such tools scan emails, links and attachments and alert you if they are found suspicious.

No matter how big or small a business you are, ransomware attack is a reality and applies to you. It is better to be prepared than having to cough up huge sums of money to free up your data later and even then there’s no guarantee your data will be restored by the cybercriminal.

Keeping your data safe: Access Control

Cyberattacks are a commonplace today. Malwares such as viruses, worms and more recently ransomwares not only corrupt your data or hold it hostage, but also inflict irreversible damage on your brand and business. As a norm, most businesses these days do invest in anti-virus/cybersecurity systems. But, is that really enough? The answer is–NO. Because, they often overlook one important aspect–access. Ask yourself, how easy is your data to access? How can you strengthen the walls that keep your data safe? Read this blog to find out.

Role-based access

Always follow a role-based access permission model–meaning people in your organization have access to ONLY the data they REALLY need. Generally, the higher the designation, the deeper the data access permission and stronger the rights. For example, someone at the executive level may not be able to edit your MIS spreadsheet, but a manager should be able to.

Formal password controls

No matter how good your cybersecurity, you need to ensure the protocols are followed at the ground level. Enforce policies regarding passwords strictly and hold violators accountable. Examples include-

• Password combinations – Ensure your staff follows the recommended best practices when selecting passwords so there are no ‘easy-to-crack’ passwords
• Password sharing – Thoroughly discourage password sharing across your organization. No matter who asks for it, passwords shouldn’t be disclosed unless authorized as per the protocols.

Don’t ignore physical security

Virtual security is a must, but so is physical security. Though there is only so much physical access controls can do in keeping your data safe in the BYOD era of today, don’t overlook this aspect. Installation of CCTV cameras on-floor, biometrics/card based access to your workspace/server rooms, etc. also have a role to play in data safety from the access perspective.

Training & reinforcement

Finally, train…train…train. You need to train your employees on the protocols for data security and access so they don’t mess up accidentally. Conduct mock drills, refresher trainings, follow up with quarterly audits, and use positive and negative reinforcements to ensure everyone takes it seriously. Because, at the end of the day, no cybersecurity software is good enough, if the best practices related to data access are ignored.

Risk assessment: A Value model

Risk assessment means looking at all the conditions, situations and threats that exist that could damage or bring down your business. Risk assessment is all about identifying the external and internal threats that exist and measuring the likely consequences if that threat becomes reality. A data security risk assessment would identify what data you have, how you use it, how confidential it may be, how it is affected by regulations and the ways it could be compromised. A major focus of a data security assessment is cybercrime.

In terms of developing an IT staff, the alternative approach to building out a team is to determine your IT staffing needs in terms of risk assessment. That means evaluating risk and directing staffing resources to those areas where the risk is greatest and the consequences most severe. Basically, it is an evaluation on the ROI of your IT staffing in light of identified risk. In particular, what is the return on your risk management investment? The goal is to evaluate risk in light of business and operational consequences. Put simply, which point of failure leads to the most destructive consequences. Once that is determined your limited IT resources can be directed at those most critical areas.

In the short term, you can try to find the specific applicants that have what you need to plug the holes. Is that workable given the challenges to hiring? The market is very competitive.

The alternative is an MSP. Using a Managed Service provider for at least some of your most critical needs can be a very effective way of targeting your IT resources to where you are most vulnerable.

You have more freedom to move resources to where they are most needed.

Opting for an in-house IT team limits you in terms of scalability. You cannot just add or reduce the strength of your IT team anytime. Choosing a managed services provider, however, provides the flexibility to scale up or scale down your IT investment to suit your business needs.

You are better prepared for IT emergencies

Having a service contract with an MSP helps you tackle IT emergencies better because you get access to top-level IT expertise. An MSP’s core business is IT so they are naturally more knowledgeable and up-to-date when it comes to the latest IT challenges, including cybercrime. Plus, an MSP can deploy more resources if need be to solve your IT emergency, helping your business get back on its feet sooner.

You will be ahead of the curve

The IT industry is constantly evolving. The in-house IT team may find it challenging to keep up with the latest trends and norms of the IT industry as they will be caught up in managing the day-to-day IT activities at your office. Also, IT is a very broad field, and only a diverse IT team has the depth to cover all of the different areas. With an MSP, you don’t have to worry about how technology is changing. A good MSP will not only be up-to-date with the latest in tech but also advise you on what tech changes you need to make to stay ahead of the curve.

The lesson for hiring IT is that you should focus resources, be they in-house or external, on the areas where your business is at highest risk from a single point of failure or a cyber attack. Not all IT needs are equal, and traditional models don’t always recognize this. A Managed Service Provider can also assist you in determining a hierarchy of your IT needs.

Forego the standard IT staffing model?

From the outset, even the smallest start-up is reliant on an IT infrastructure. Digital technology cannot be avoided. For small-to medium-sized businesses, developing and bringing on staff to support that IT infrastructure is often a low priority compared to ramping up operations and meeting the revenues goals necessary to stay operational. Resources to address IT needs may not be available (for at least, perceived to be unavailable) Management is focussed on revenue growth and meeting operational and business requirements. Management may also be incentivized to direct available funds in these directions, rather than building out a robust and sufficiently risk averse IT infrastructure. Also, management may not have the background that provides sufficient experience to identify areas where IT staffing is necessary to maintain a stable and sustainable business.

In a small- to medium-sized business beginning to explore the development of an IT support staff, or even in a large organization undergoing significant transformation, there may be a tendency to begin the process of IT staffing with a top level individual–a CTO, IT director or IT manager. Once hired, that individual would be relied on to begin the process of building out an IT staff.

Problems facing organizations: initiating an IT staff build-out

For any organization, from a small firm looking to bring on its first dedicated IT staffer to a large organization, there are a number of hurdles that may be encountered. One of the most immediate is the shortage of available IT professionals. No matter what your needs, it may be difficult to find appropriately skilled applicants to meet your staffing requirements. This may mean that following the top-down development model may cause risky delays in your goal of protecting and securing the IT infrastructure needed to remain competitive. The job market in IT is especially competitive. This is just one reason we are suggesting that you consider setting aside the top-down build-out model and take a different approach.

Another reason that the top-down model may be problematic, especially for small- to medium-sized businesses, is that it may be a little too “perfect.” When resources for IT staffing are limited, creating the IT department that covers everything can be unrealistic. Creating this traditional model takes time and resources to make sure you have the IT support that possesses all the diverse skills needed to meet the many requirements of a sound IT infrastructure. As a result, this model may not truly meet the immediate/urgent needs of a developing or transforming organization. As ever, the perfect may be the enemy of the good.

So how does a firm looking to strengthen its IT infrastructure and protect itself from vulnerabilities–from cyber attack to single point of failure– protect itself? Lack of available applicants and limits make traditional build outs unrealistic. And will also take too long to address urgent needs.

In our next blog post we discuss a value based approach

Roadmaps for Data Security and for Strategic Planning

It is time you were encouraged to stop looking at the technology you use to run your business as just some reliable piece of invisible infrastructure that hums along in the background.

Instead, business owners should look at technology from a strategic perspective. What can technology do to support business in the future? How can new technology help your present business evolve and adapt to new market demands and customer expectations? For instance, AI is a new technology that may create serious disruption in many industries. Failure to think into the future could put a business at a disadvantage. Unfortunately, most small businesses face two challenges that make it difficult to incorporate new technology into their strategic plans.

1. In-house staff focus more on maintaining existing technology – For many SMBs, in-house IT staff resources are limited. As a result, much of their time and attention must be focused on putting out fires and handling emergencies. Beyond that, day-to-day maintenance and support of your IT infrastructure is probably stretching them past the breaking point.
2. Leadership expertise in SMBs is concentrated entirely on running the business and growing revenues. Very simply, SMB leadership’s skills are in their specific industry. Management needs to be focused on the product or service and driving revenues. The issues get back to “core competencies.” A business that gets distracted from its core competencies may damage its focus on quality and meeting customer expectations.

Because of these two challenges, SMBs tend to not integrate technology into long-term strategic planning. They simply don’t have the luxury of devoting resources to IT planning. There is a solution, however. An MSP has the depth and breadth of resources that you could never hope to build and manage internally. To do so would drain management focus and be financially unsupportable.

What can an MSP bring to a small business? Here are six areas where an MSP can help a small business act strategically and integrate technology into long-term growth plans.

Building a Technology Roadmap

At the heart of a technology roadmap is this question: “Can technology improve the delivery of products and services or improve qualitatively the nature of the product or service itself?” A technology roadmap works to develop a complete, concrete answer to this question. It is a long-term planning document that defines how and what technology should be incorporated into the growth of the business. Individual parts of a roadmap will address specific aspects of the company’s technology such as software development, infrastructure upgrades, digital transformation, and product innovation. A technology roadmap that includes product innovation is especially important. The roadmap may also include research and development initiatives.

Creating a Security Roadmap

A security roadmap is the result of a risk management analysis. By analyzing the vulnerabilities in your IT infrastructure, including cyber security threats, an MSP can create a security roadmap that identifies all the actions that need to be taken to fortify your IT infrastructure as much as possible. Like a technology roadmap, it is a specific plan for ensuring that your data, network hardware and software remains safe from cybercriminals. Data is critical to your business. It is proprietary and it is also very vulnerable to theft. A data breach can be a real threat to the viability of your business. The legal and reputational consequences can take down a small business. A security roadmap can include:

• Determining what regulations govern your data (HIPAA, GDPR, FERPA, etc.)
• Developing access protocols
• Training employees about human vulnerabilities to cybercrimes, such a phishing
• Creating effective backup procedures, which are a particularly important defense against ransomware attacks