Cyber Blackmail Expanding Beyond Ransomware to IoT and Social Media

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CyberWisdom Safe Harbor Commentary on Cyber Blackmail
Today I came across this story from darkreading.com that covers digital extortion which really cybercriminal cyber blackmail. When we think of cyber blackmail, we often think of ransomware. But now cybercriminals are looking for new ways to shatter organizations beyond blackmail. Cybercriminals already know that many businesses will pay if ransomware attacks affect their day-to-day operations. Ransomware pushes the peak of cyber blackmail in 2017 and still the weapon of choice for cybercriminals
Internet of Things Cyber Blackmail
Cybercriminals will start using the Internet of Things,IoT, (especially the Industrial Internet of Things) to grow and extort money from victims. Key manufacturing and health care are the best examples of attacks on manufacturing plants and robots and sensitive documents and documents. Enterprises that need to be up and running are particularly vulnerable. He continues: “Any real-time service organization, real-time operations will be affected.
These plants and machines usually run on legacy systems and various hardware, and patches or upgrades are possible if not impossible. These systems are the main goals for attackers looking for old loopholes. Trend Micro’s report highlights supply chain disruptions, such as an attacker inserting a logical bomb or a Trojan into a specific network location. Victims need to pay to find the bug’s location so they can be disabled.
Digital files, which are usually targeted at ransomware attacks, are not as complete as the key processes. Threatening actors want to “peel onions,” Cabrera said and get core infrastructure data that businesses will pay to keep. “They are going deeper and deeper into organizing these processes … If these processes are affected, you
know they will pay for it.”
Social Media Cyber Blackmail
Social media blackmail is another growing threat. One form is smear activity, which spreads fake information and asks the victim to pay or stop. These more common campaigns among celebrities and politicians have started to target brands and executives. Once a company’s reputation is damaged online, it is hard to rebuild.
Cabrera points out: “We live in a reputable economy.” CEOs and board members, especially in this era of society, are being promoted, and whatever they say, good or bad, can be immediate Seen online
Computer Cyber Blackmail
Ransomware will not go anywhere. Cabrera said: “I think extortion software will not disappear, will only continue to evolve. Security experts across the industry have noticed the spike in ransomware, with a 90% detection rate of corporate victims in 2017. Last year, more than 50% of companies were attacked by ransomware, and on the average, they were hit twice.
Ransomware has proven to be a reliable earner for the financial losses of cybercriminals and victims. Sophos found that the median total cost of ransomware attacks was $ 133,000. This includes ransom, downtime, labor, equipment costs, network costs and opportunity costs. Of the 2,700 respondents surveyed, 5% said that the total cost of ransomware varied from 1.3 million to 6.6 million U.S. dollars.
In the following year, Trend Micro predicts that ransomware criminals will add new capabilities to their digital weapons through “old books” that re-use traditional malware technologies. This may include PE (Portable Executable) infections and more aggressive communication strategies to drive the speed and spread of attacks. Analysts also suggest that criminals will establish a system that minimizes their interaction with victims.
Cabrera said the arrival of GDPR will change the tactics extorted by cybercriminals. They understand the impending changes and if they do not comply, the company will have to pay a fine. He predicts they will use the new rules as a lever for victims to pay for the data.
He explained: “They are just on the surface of understanding what organizational motivation is.” Not only do they fine-tune their tools for organizing but also understand all the financial aspects … I absolutely believe that GDPR will be used as Impact payment ransom tool.
Pay or Not Pay the Cyber Blackmail?
The problem persists: should you pay when you are subjected to ransomware? Cabrera said that if your company is in the last place of choice, then you have failed.
He said: “The days of ransomware attacks on our personal computers are gone, it is more annoying than the risks of business.” You should have a very strong plan to deal with digital ransomware. ”
There are many reasons not to pay, but unplanned organizations find themselves weighing the pros and cons of payments.
If or when they are attacked, businesses need people, processes, and technology to reduce risk. There is no guarantee that you will receive your data when it is retrieved. And, even if you did get it back, there is no guarantee that it is not copied or stolen.
Cabrera said: “Even a slight change in the data may affect weeks or months of operation.
Read More…
In the future of digital extortion, ransomware isn’t the only weapon, and database files and servers won’t be the only targets. Engaging post, Read More…
thumbnail courtesy of darkreading.com

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