 Malicious software, also known as malware is a term that can be used for various viruses, spyware, worms and programs that attack your device or computer. The goal of malware is to target and retrieve protected data, remove confidential documents or add software without user consent or knowledge. Software is identified as malware based on its intended use, rather than a particular technique or technology used to build it.
A computer virus is a malicious software which self-replicates and attaches itself to other files/programs. It has the capability of executing secretly when the host program/file is activated. The different types of Computer virus are Memory-Resident Virus, Program File Virus, Boot Sector Virus, Stealth Virus, Macro Virus, and Email Virus. Types to Look Out For Spyware secretly records information about a user and forwards it to third parties. The information gathered may cover files accessed on the computer, a user’s online activities or even user’s keystrokes. Adware as the name interprets displays advertising banners while a program is running. Adware can also work like spyware, it is set up to gather confidential information and essentially spy and gather information from someone’s computer. Ransomware is a form of malware that encrypts a victim's files. The attacker then demands a ransom from the victim to restore access to the data upon payment. Users are shown instructions for how to pay a fee to get the decryption key. The costs can range from hundreds to thousands of dollars mainly paid through Bitcoin. There are a number of defensive steps you can take to prevent ransomware infection. These steps are a course good security practices in general, so following them improves your defenses from all sorts of attacks:
Remember the ABIS team can meet your needs whether you are a global enterprise or an entrepreneurial startup company. We have the experience and market presence to put together a risk management solution for cyber risk or tailored to your specific needs. Visit our website to learn more: https://www.abisonline.com Sources: https://www.csoonline.com/article/3295877/what-is-malware-viruses-worms-trojans-and-beyond.html https://www.csoonline.com/article/3236183/what-is-ransomware-how-it-works-and-how-to-remove-it.html With the number of data breaches increasing every year, it’s not a question of if your business will suffer a breach, but when. The threat affects companies of all sizes and in every industry, including manufacturers.
In fact, manufacturers are one of the most susceptible to cyber threats. According to a Kaspersky Labs report, manufacturers’ computers accounted for about one-third of all attacks as sophisticated attackers are after intellectual property. Whether malicious or accidental when a cyber event occurs it can expose critical information that businesses are required to protect subject to State and Federal privacy and data breach notification laws. Within the manufacturing industry over 60% of all malicious attacks use cyber espionage of social or phishing attacks as the calling card. The costs associated with cybercrime are increasing dramatically, not to mention putting the business’, customers, and reputation at risk. All of this can be crippling to companies who have not made cybersecurity part of their annual budget. An article by Varonis reports the following:
Cyber risk policies provide coverage to help protect against data breaches and other fast-evolving cyber exposures not covered by standard property and liability policies. These policies respond in multiple ways such as security card data remediation and notification expense, network and information security liability, regulatory defense expenses, crisis management event expenses, and computer program and electronic data restoration expenses. Manufacturers can no longer ignore the threat. When your business relies on continuous operation, getting shut down due to a cyber-attack is an unacceptable risk. Findings from an analysis of 2017 cyber claims data revealed that negligence was the most common cause of loss for the healthcare industry and a hacking attack the most common for non-healthcare organizations. However, ransomware was the second most common cause of loss for all industries.
Ransomware is a cyber-related threat with a monetary demand. The threat is typically to divulge or destroy information, to insert malicious code into a computer system, or to damage, destroy or prevent access to a computer system. According to the report, “2018 Cyber Claims Digest,” by NAS Insurance, there was a 152 percent increase in ransomware as a cause of loss in the healthcare industry between 2016 and 2017.  Hacking and cybercrime are in the news daily, and everyone has likely been impacted by it in some way from the numerous high profile breaches of the companies that store our data. The increase of these threats has awakened us to the reality that we need a level of vigilance that offers better protection.
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