https://parima.glueup.com/my/community/4399/post/110448/

Q: What are the most common types of ransom ware globally and how can business protect themselves from an attack before they transfer the risk to insurance?

Some common type of ransomware include; 

• Ransomware-as-a-Service (RaaS): This model allows cybercriminals to rent ransomware tools and infrastructure, making it easier for less skilled attackers to launch ransomware attacks²(https://www.sentinelone.com/cybersecurity-101/cybersecurity/types-of-ransomware/​).
• Double Extortion Ransomware: Attackers not only encrypt the data but also threaten to leak sensitive information if the ransom isn't paid²(https://www.sentinelone.com/cybersecurity-101/cybersecurity/types-of-ransomware/​). There is also cased of triple ransomware where the victims data is encrypted, customers data threaten to be leaked and also threat to launch DDoS attacks against 3rd parties that are connected to the victim.

Some of the top active ransomware groups in 2024 include 

• RansomHub a prolific ransomware-as-a-service (RaaS) brand (https://dailysecurityreview.com/resources/top-10-ransomware-groups-of-2024-the-years-most-active-cyber-threats/)²(https://www.infosecurity-magazine.com/news-features/top-10-most-active-ransomware/)​.
• Akira: This group saw a surge in activity after the disruption of other major ransomware groups. Akira's operations were notable for their adaptability and persistence¹(https://dailysecurityreview.com/resources/top-10-ransomware-groups-of-2024-the-years-most-active-cyber-threats/​).
• Black Basta: (https://www.infosecurity-magazine.com/news-features/top-10-most-active-ransomware/​).
• LockBit 3.0

Mitigation strategies that should limit susceptibility to falling victim to a ransomware attack include 

• Patch Management: Keep all software and systems up to date with the latest security patches. 
• Regular Data Backups: Ensure you have frequent and thorough backups of your data stored offline. Test your back up to ensure this data is not corrupted. 
• Endpoint Protection: ​
• Network Segmentation. 
• Employee training, educate employee to recognise phishing emails etc 
• Install / use Multifactor authentication. This mitigate authorised network access, reduces phishing and also can limit lateral malware movement