Facts of Ransomware Attacks 2021 Malaysia | LGMS News

News August 23, 2021

The full article appeared in Digital Edge, The Edge Markers – on August 15, 2021

Real experience from Cyber Security Experts to handle Ransomware Attack

  • During a digital forensic investigation on a case that involved a financial institution, LGMS Team has tracked that the network had already been compromised and infiltrated for more than three years. 
  • Another batch of hackers had infiltrated the network recently, while the first batch of hackers still had access to their network. Both groups were simultaneously working on their own malicious goals and had successfully launched the attack.

“When they launch ransomware attacks, we assume that it is already their last resort because the victim has the option to pay or not to pay.”

CF Fong – CEO of LGMS

No one is Safe; Ransomware targets every business 

Attackers do not only target big organizations as they are leaning towards the retail and education sectors trend. According to “The State of Ransomware 2021 Report”, 33% of organizations with between 100 and 1,000 employees were targeted with ransomware attacks last year. 

The State of Ransomware Report 2021 from The Edge Markets

  • Organizations are keen to get their data back during ransomware attacks. 
    The percentage of organizations willing to pay the ransom has increased 6% between year 2020 and 2021.
  • Number of victims globally affected by ransomware family, with data published on leaked sites.
    NetWalker has the highest number as compared to other families
  • Percentage and number of companies hit by ransomware attacks in 2021. 
    Retail and education sectors are found within the top percentage of being hit by ransomware attacks.

Tips to Prevent Ransomware Attack

Protecting oneself against ransomware attacks may seem impossible, considering the ever-growing ransomware variants and tactics used by hackers. However, there are still several measures that organizations can take to significantly reduce the level of risk.

1. Setting up layers of virtualization.
Virtualization is the process of creating a simulated computer environment, separated from the physical environment. Practice network segmentation/ virtual networks with adequate access control to prevent ransomware attacks.

2. Keeping software updated and patched.
Software updates ensure your system recognizes newer threats. The past incident shows that companies that neglect to update the system are particularly vulnerable to ransomware attacks. 

3. Backup data regularly. 
Be prepared to make sure a backup is ready in case of a Ransomware attack on your system. Restore data from a backup to recover from ransomware

4. Early detection helps prevention. 
Monitor network administrators if any suspicious network traffic is reported. Conduct a Compromise Assessment at least once a year to spot a hacker’s footprint and repair the loopholes before attacker action.

5. Isolate and restrict access to backup servers from the rest of the shared servers.
Prevent unrestricted access to the backup server from other LAN segments. Several preceding ransomware cases suggest targeting the backup server is one goal to prevent the victim from restoring backed-up data.

6.Establish network trend baselines.
Innovative teams engage analytic technologies to establish baseline network activity norms so anomalous actions can be easily spotted.

About LGMS
The leading cybersecurity expert in Asia trusted by multinational corporations around the world. LGMS is a cybersecurity consulting company focused on delivering specialized cybersecurity assessments, consultations, and advisory services.  Established in 2005, LGMS has since built a reputation for its integrity, values, and best practices by providing world-class professional services to local, regional, and international clients across various industries and backgrounds. Visit www.lgms.global for more information.

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