Ransomware attacks are wreaking havoc on Malaysian businesses, causing irreparable damage to their reputation, finances, and operations. In today’s digital age, where cybercriminals are becoming increasingly sophisticated, the importance of having a backup and disaster recovery plan cannot be overstated.

Number of ransomware attacks in 2020 – 2022

Imagine waking up one day to find that your entire business is paralyzed by a ransomware attack. All your critical data is encrypted, and you are forced to pay a hefty ransom to retrieve it or risk losing it forever. This nightmare scenario has become a reality for many Malaysian businesses, and the consequences are dire.

Without a robust backup and disaster recovery plan in place, businesses are vulnerable to losing their data and compromising their operations. This can lead to significant financial losses, damage to their reputation, and loss of customer trust.

What is Ransomware?

Ransomware is like a digital kidnapping that can bring businesses to their knees. Cybercriminals use this malicious software to lock away important data or even control entire computer systems, threatening to keep them locked unless a hefty ransom is paid. In a world where businesses increasingly rely on technology, the impact of ransomware attacks can be devastating.

Causes of Ransomware:

• Phishing emails and social engineering attacks: Victims may receive an email that looks like it’s from a legitimate company, asking them to click on a link to view an invoice. Once clicked, the ransomware is downloaded onto their computer.
• Exploiting security weaknesses in software: Hackers exploit to gain access to a victim’s system and install ransomware. This can be achieved by targeting known vulnerabilities in specific software versions.
• Stolen login credentials: Hackers use stolen login credentials to install ransomware on a victim’s device. They may achieve this by using tactics like phishing emails, where the victim enters their login information on a fake website.
• Trojan malware: Often disguised as a genuine program and when installed by the victim, allows the attacker to access the system and install the ransomware.
• Drive-by downloads: Hackers infect a legitimate website with ransomware, causing visitors to unknowingly download the malware onto their devices.

Recent Ransomware Attacks 2023

• Hospital Clinic de Barcelona
  One of the main hospitals in the city suffered a ransomware attack that crippled its computer system, causing 3000 patient checkups and 150 non-urgent operations to be canceled. This incident occurred in March 2023.
  This ransomware affects business operations which are critical to ongoing operations.
• U.S. Marshals Service
  U.S. Marshals Service suffered a security breach leading to sensitive information being compromised which contains information such as returns from legal processes, administrative information, and PII of subjects of USMS investigations, employees, and third parties. Company announced that the incident is significant, which affects law enforcement.
• Reddit
  Back in February 2023, the social news aggregation platform Reddit suffered a security breach in which attackers obtained unauthorized access to corporate documents, code, and some systems. The BlackCat ransomware gang, also known as ALPHV, claims to have stolen 80GB of data from Reddit during the attack and asks for a $4.5 million ransom.
• Dole Food Company
  One of the world’s largest suppliers of fresh fruit and vegetables, has disclosed that it has been affected by a ransomware attack that disrupted its operations. The food giant has hired third-party experts to assist with the mitigation and protection of the impacted systems and the incidents have also been reported to law enforcement.

You might be wondering how would you like to have peace of mind knowing that your business’s data is always protected from security breaches, system failures, natural disasters, and even ransomware attacks?

Cloud backup and disaster recovery is a vital defense against ransomware attack. With the power of cloud backup and disaster recovery, you can rest assured that your data is safe and easily recoverable in the event of any unexpected event.

Read on to learn more about the benefits of cloud backup & disaster recovery and how it can save your business from potential disasters.