It has been reported that the ransomware attackers are threatening industries in several countries. As a cybersecurity threat is continuously affecting top health providers and retailers in the U.S., there is also concern that insurance providers might also be at risk of being attacked as well.
Of all malware payloads, 7 out of every 10 were ransomware, which costs businesses more than $75 billion per year. In fact, a new research study from Cybersecurity Ventures shows that more than $250 billion will be lost due to ransomware by 2031.
The FBI and Department of Homeland Security have time and time again recommended against paying ransoms, but we have also seen, last year, Colonial Pipeline caved to the demands of hackers and paid $4.4 million in ransom for a decryption key that restored oil operations.
Interestingly, only 1% of all global governments have a clear set of guidelines and rules on how to deal with ransomware incidents. The Gartner report predicted that by 2025 that number could grow to more than 30%. Even Verizon’s 2021 Data Breach Investigation Report highlighted how ransomware appeared in 10% of breaches.
What is Ransomware attack?
Ransomware is a form of malicious malware that locks or encrypts files and data information on a computer system until a ransom is paid to get a decryption key. Ransomware threats might cause downtime, data loss, and possible intellectual property theft.
Ransomware attacks often target computer users by changing the extension of .doc, .jpg, and .zip files in Windows or masquerading as system processes. Suspicious activity on your PC can include increased CPU usage or the system running low on memory.
Here are six of the most common infection routes of ransomware:
- visits to malicious websites,
- opening a malicious file attachment in an email
- downloading a malicious app from a website or through the App Store
- downloading software from P2P file distribution (torrent) sites and
- installing free programs that you don’t know anything about but running their installation files anyway
Unfortunately, paying for ransomware doesn’t have fruitful outcomes. On average, organizations that paid the ransom got back only 65% of their data. Of those who’ve been affected, 29% had to settle for losing half or more of their data.
To protect against ransomware, an organization should review its disaster recovery plan and exercise it with the executive staff and board members.
With ransomware attacks on the rise, businesses need to prepare for and anticipate the possibility of an attack. But how can they expect a ransomware attack if they are at risk?
If your business is faced with external ransomware threats and hacking attempts regularly, planning tabletop exercises (or walkthroughs) can help your team brainstorm ways of effectively and efficiently dealing with such incidents if or when they happen for real.
What is a Ransomware Tabletop Exercise?
Ransomware tabletop exercise is a simulated targeted attack scenario, between security teams and stakeholders, to test an organization readiness to ransomware attack response plan and recovery.
A ranomware tabletop exercise assessment is exactly what it sounds like. You get together and act out a situation, except in this case it’s with experts on ransomware rather than actors, who are playing roles as employees or executives in your company. The important takeaway here is that exercises like these can help keep you, as well as your team prepared if whether real life ever throws you a curveball.
Understand Ransomware Incident Response Strategy
The ransomware tabletop exercise assessment is a means of evaluating your organization’s incident response capabilities against ransomware scenarios. A tabletop exercise is done to test how the capabilities of an incident response plan to help you and your team prepare for an actual ransomware breach, in which you are tasked with evaluating how your incident response capabilities perform when triaging ransomware breach scenarios from real cases detail in the Ransomware Playbook.
Be Compliant with Regulations
Get an assessment of your ransomware readiness followed by a formal scoring afterwards that lets you demonstrate compliance towards the established regulations (PCI-DSS, HIPPA, or FISMA etc.) and auditors.
Why Conduct A Ransomware Readiness Assessment?
A ransomware readiness assessment is an important risk-based analysis or step in protecting an organization’s data and systems from ransomware attacks. Ransomware attacks can have serious consequences, including loss of access to critical data and systems, financial losses, and damage to an organization’s reputation.
By conducting a ransomware readiness assessment, organizations can identify crucial security areas and attack vectors at each phase of kill chain and take steps to mitigate the risk of a ransomware attack.
Following 3 are key areas of security posture to deliver immediate layers of protection:
- Prevention – How to protect an organization from ransomware?
- Containment – What are the steps of ransomware threat containment?
- Restoration– What are the ways of ransomware data recovery/backup?
3 key reasons why an organization might want to conduct a ransomware readiness assessment:
- To identify potential vulnerabilities: A ransomware readiness assessment can help an organization identify potential risks, security control gaps and vulnerabilities in their systems that could be exploited by ransomware attackers. This includes identifying areas where data is stored, the use of weak passwords, and the lack of proper security protocols.
- To implement preventive measures: Once potential vulnerabilities have been identified, an organization can take steps to prevent a ransomware attack by implementing preventive measures such as strong password policies, regularly updating software and security protocols, and providing employee training on cybersecurity best practices.
- To develop a response plan: In the event of a ransomware attack, it is important for an organization to have a well-defined response plan in place. A ransomware readiness assessment can help an organization develop a response plan that includes steps for identifying the attack, mitigating the damage, and restoring affected systems and data.
How does the Ransomware tabletop exercise help?
Simulated ransomware scenarios offer a tabletop exercise that helps IT departments, CIOs, CISOs, and relevant stakeholders/attendees develop comprehensive ransomware incident response capability when under the threat of malware attacks. A Ransomware Tabletop Exercise includes discussion questions and suggested resources so that you can become better prepared to defend against even the most complex threats.
Technical and administrative staff who take part in ransomware tabletop exercise scenarios not just can think about the most effective way to deal with the situation, but also coordinate tasks and responsibilities for data backup, encryption and restoration by role-playing with the technical support team.
How to test an organization’s resilience against ransomware attacks?
The recent ransomware attacks have proven the need for business to respond to a ransomware incident. By taking a few minutes out of your week to create a ransomware incident response plan, you will be better prepared should something like this happen.
How to test ransomware readiness and protection defense?
The best protection against ransomware is proactive preparation.
- The first part of the ransomware tabletop training exercise for employees is designed to start the right conversations and lay down the foundations of ransomware tabletop exercise scenarios for review.
- The second is a simulated ransomware incident response exercise that is set up to not only test incident response readiness, but give valuable insight as to what areas of your ransomware incident response checklist plan can be improved for inevitable future malware incidents.
Consequently, many security professionals are now developing complex strategies that involve beefing up their IT infrastructure’s defenses against digital intruders.
Why is ransomware tabletop exercise important?
Businesses can’t protect themselves against a ransomware incident unless they know what to do when it happens.
A good ransomware incident detection and response strategy, activities and security protocols – developed with the input of key stakeholders – at all levels within the organization, is necessary.
To get everyone on the same page and practicing a planned ransomware malware tabletop, stand-alone exercises, like tabletop drills and full-scale rehearsals, are helpful.
Ransomware tabletop exercise scenarios let you examine specific systems by posing hypothetical Ransomware attack simulations about how an event would unfold so that IT staff can work through concerns and identify any gaps in preparedness.
Periodic exercises of ransomware response and recovery plans are designed to help technical and administrative staff prepare for a ransomware attack and understand their roles, actions and responsibilities if there was a real event. By participating, ransomware tabletop exercise stakeholders will better understand how to respond and recover from a ransomware-based attack scenarios.
In simple terms, full-scale ransomware rehearsals allow staff across different functions to interact in person while preparing for a scenario to occur so they respond quickly and efficiently during an actual Ransomware threat.
Conducting a Ransomware Tabletop Exercise
A ransomware tabletop exercise is a unique way to ensure a proper incident response strategy. In this type of training, players either work individually or in groups to respond to cyber-attacks similar to real-life ransomware attacks. This exercise allows stakeholders to practice how they would handle the situation, building stronger collaboration amongst all affected parties and allowing them to adjust their strategy based on lessons learned.
Businesses are increasingly being threatened with ransomware attacks, which is why CIOs and other cybersecurity leaders need to take steps like conducting ransomware readiness assessments into the potential security threats beforehand and then enforcing the measures they ascertain are best to ensure preparation and early mitigation alongwith optimal protection of company data from ransomware attacks.
Having simulated tabletop exercises in the form of real-life scenarios (for example, an employee opening a phishing email or even a new computer user infecting his system), what would happen if they were attacked by some form of ransom virus so that they can process all the details before they face a real threat.
What are the advantages of Conducting a Ransomware Tabletop Exercise?
What are the six elements of a successful ransomware tabletop exercise execution?
- Ransomware education and Preparedness
- A collaborative Learning environment
What are the 14 Key controls of a Ransomware preparedness assessment?
- Firewall and network device configuration
- Remote Access
- Email and Web
- Application whitelisting and audit
- Endpoint protection
- Employee Ransomware awareness and training
- Ransomware Incident Response plan
- Third party vendor management
- Backup and audit logging
- Vulnerability and patch management
- Access and privilege controls
- Email and web filtering
- Network and endpoint monitoring
- User activity logging and audit configurations