Digital Economy Blog - Ransomware: digital risks and cybersecurity issues

2023-11-08 18:00:25

In an increasingly interconnected and technology-dependent world, ransomware has emerged as an increasingly concerning digital threat.

Ransomware is a type of malware that, when executed on a victim’s computer, makes their data inaccessible, usually through cryptography. Then, the cybercriminal demands a ransom to restore access to this data. There may also be unauthorized transfer of confidential information from a device during this type of attack, usually with the aim of extorting the victim under the threat of disclosure of their data.

Data sequestration poses a digital security threat, especially for law firms, who are not immune to this dark threat to the integrity of their records and the confidentiality of their clients. Therefore, cybersecurity has become a critical necessity for the legal profession, and lack of proper protection can result not only in data loss but also in serious ethical and legal implications.

The big problem with data theft is that after being a victim of this crime, it is extremely likely that the only solution to protect yourself is to pay the amount requested by the criminal, which usually amounts to several million euros. , and if payment is not made, the hacker discloses the stolen information.

Public and private institutions around the world can also be potential victims. For example, in Brazil two institutions were victims of this type of attack in 2017, when their equipment was taken out of service and users of the institutions were faced with ransom demands. At the same time, in November 2022, a German automobile manufacturer was the victim of a large-scale ransomware attack. In France, in 2023, the same group of hackers disrupted the operations of a hospital center for several days.

Despite the number of ransomware attacks around the world, there are ways to protect institutions’ systems from these attacks. It is essential to adopt strict precautions in digital environments, including keeping operating systems and software up to date with the latest security patches, implementing reliable antivirus and anti-malware solutions, regularly raising awareness employees with good internet browsing practices and recognizing emails containing malware, avoiding downloading suspicious files, performing regular backups and storing them securely, outside of the main network. These measures can be crucial for data recovery in the event of an attack.

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