How CryptoLocker Still Haunts an LA Wholesale Company (SlideShare)

How CryptoLocker Still Haunts

an LA Wholesale Company

Courtesy of FPA Technology Services, Inc.

http://www.TechGuideforLADistributors.com

http://www.techguideforladistributors.com/

Sponsored by http://www.TechGuideforLADistributors.com

Craig PollackFounder & CEO

This ransomware and other

forms of extortion are on the

rampage in several forms

and are ready to pounce

on the unwary




The CryptoLocker Menace




The method of attack used

by the virus was as follows:




The virus entered a computer

running Microsoft Windows

by masquerading as an

innocuous email attachment




Once the link in the email was

clicked, it then encrypted files

anywhere the user had access

to a shared drive




making the data in those files

inaccessible to their rightful

owner




The owner was threatened

with permanent loss of the data

unless a ransom was paid to

the hackers responsible for

the encryption operation




They had 3 days from the point

of infection until the unlock

code was permanently

deleted




Cyber Extortion –

What Are Your Options?




Opinions among experts

were divided in the beginning




Some consultants albeit

unwillingly, said that paying

the ransom was the only way

to get the files back




Others said that the ransom

should not be paid,

but did not suggest any

other constructive solution




Over the past few years,

victims who have decided

to pay the ransom together

have paid out an estimated

$3 million to the hackers




Those who tried to wait it out

while a solution was found

risked the permanent loss of

their files




Prevention is Better than Cure




Key protective measures to

start with in such situations are:




• Frequent, protected

backups of critical data




• Fully up-to-date network

security procedures and

tools




• The right level of information

security awareness




Recently, INTERPOL and other

law enforcement agencies

and security organizations




were able to finally seize

the assets of the ransomware

culprits allowing victims to

unencrypt their files without

paying further ransoms




There is also no guarantee

of solutions being found for

similar viral infections in

the future




What Else is Lying in Wait?




CryptoLocker has already

inspired further malware

such as Cryptowall and

TorrentLocker




Cyber extortion has also been

used against companies with

VoIP (Voice over IP) networks

as well




Sound IT security procedures

are the only way to eliminate

or at least reduce their effects




How do you think an

enterprise should react

to a CryptoLocker or

similar extortion threat?




Give us your opinions on

the best way for business

to combat such menaces

in the Comments box below


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