Hi Readers! A newly discovered ransomware attack called the Gentlemen ransomware has emerged and is causing interruptions to numerous corporate networks across the globe. This is an alarming trend and serves to underline the need for companies to take proactive measures to strengthen their cyber security. There has been a consistent increase in the frequency and number of ransomware incidents affecting companies of all sizes.
Introduction: A New Ransomware Breach Raises Alarms
In the most recent article from Cyber Security reports, it was reported that the Gentlemen ransomware has been successfully penetrating networks around the world using complex and highly developed intrusion methods to gain access to a large number of networked computers, make their files unusable by encrypting them and demanding monetary payments to regain access to the files. From a Cyber Security perspective, especially through the lens of an IEMLabs CERT-IN certified laboratory, this is a clear indication of the gaping holes in corporate security postures and highlights the vital necessity for companies to bolster their Cyber Security defenses now, rather than later. Let’s take a closer look at this situation and see what we can learn from it.
An Overview of the Gentlemen Ransomware Attack
What Is Gentlemen Ransomware?
Gentlemen Ransomware is the latest strain of ransomware that targets businesses. It is designed to gain access to a company’s system, encrypt the company’s data, and cause disruption to the company’s daily operations. Similar to the way that opportunistic attacks are typically conducted, Gentlemen Ransomware was created specifically to attack enterprises and disrupt them financially through increased downtime.
Once the initial access has been gained, this Ransomware spreads quickly and will encrypt files, continue to move around the network, and demand payment typically using cryptocurrency.
How Does a Gentlemen Ransomware Attack Occur?
Entry Points to Gentlemen Ransomware
Recent investigations indicate that Gentlemen Ransomware uses many of the same common vulnerabilities as many other types of Ransomware attacks. The most common entry points are through:
- Compromised user credentials
- Unpatched software vulnerabilities
- Malicious phishing emails with infected attachments
- Publicly accessible Remote Desktop Protocol (RDP) services
All of the methods highlighted above illustrate that even the smallest of security errors can lead to a full-blown ransomware breach.
Post-Exploitation Tactics Used by Gentlemen Ransomware
Lateral Movement and Encryption
After attackers have accessed a system, they use several common methods to access all other systems within the network (lateral movement) and to encrypt as many files on the target systems as possible. These methods include:
- Elevating their privileges to the highest level
- Moving laterally through the network
- Disabling any backup systems and security measures
- Deploying their ransomware payload in a manner where they are as likely as possible to be unnoticed.
This tactical method of operation is designed to create difficulty in detecting cybercriminals after gaining initial access and to maximize the expense associated with recovering from the incident.
Why Corporate Networks Are Prime Targets
High Value, High Pressure
Corporate networks represent the highest value (to the cybercriminal groups) and, therefore, are the most likely targets of a ransomware breach.
Because corporate networks maintain valuable data such as customer information, financials, and industry proprietary data, cybercriminals target these organizations because they believe they can demand the highest ransom payments from them in the shortest time frame to allow them to be able to resume their day-to-day business operations.
Impact of a Ransomware Attack from Cybersecurity Standpoint
Compliance and Business Risks
A ransomware breach will result in business risks and compliance violations, including:
- Financial losses
- The damaged reputation of an organization
- Legal issues and sanctions
- Failure to comply with laws and regulations
If the organization is governed by local regulations such as CERT-IN, GDPR, or ISO 27001, the repercussions can be great.
Cybersecurity Precautions to Prevent a Ransomware Attack
According to an IEMLabs CERT-IN Certified Perspective, the following actions must be taken.
1. Access Control should be Tightened
Weak credentials serve as a gateway. To combat this threat, the organizations should:
- Implement Multi-Factor Authentication (MFA)
- Disable Old Accounts
- Restrict RDP Access
Using strong Identity Management solutions will reduce the potential for a ransomware attack taking place within an organization.
2. Implementing Regular Patch Management
Unpatched systems continue to be one of the most commonly exploited attack points. From an IEMLabs CERT-IN certified lab perspective, these issues can be addressed by performing the following:
- Security patches should be applied on a timely basis.
- Vulnerability assessments should be performed on a regular basis.
- Monitor end-of-life software products.
The practice of proactively applying patches to systems can close vulnerabilities prior to an attacker gaining access.
3. The Importance of Segmentation
Ransomware proliferates rapidly via flat networks. By properly segmenting a network, an organization can:
- Limit lateral movement within the network,
- Reduce the blast radius during an attack and
- Contain the spread of the ransomware more quickly.
Segmentation is one of the most critical recommendations made during a cybersecurity audit for enterprises.
4. Your Last Line of Defense: Backups
Having a strong backup strategy is critical to recovering from ransomware breach incidents. Recommended best practices for backups include:
- Off-line and immutable backups,
- Testing to ensure backups can be restored, and
- Restricting access to backups.
When clean backups are not present, organizations may feel that the only option they have is to pay the ransom.
5. Employee Awareness and Training
The responsibility for ransomware incidents often times lies with employees. Ongoing training will enable employees to:
- Recognize phishing scams,
- Report suspicious activity and
- Use best practices for cybersecurity.
A comprehensive employee awareness program is a cost-effective layer of defense.
Incident Response: Taking Steps To Prepare Yourself Before A Breach
Being prepared saves you time and money!
A well-written response plan will include:
- Defined paths for escalation
- CERT-IN Reporting
- Forensic Readiness
- Strategies for Communication
By working with companies like IEMLabs, who are CERT-IN Certified Labs, organizations can respond quickly and effectively to minimize damage.
Lessons Learned from the Gentlemen Ransomware Incident
Cyber Security is Mandatory
The Gentlemen Ransomware incident is an example that Lead us to know for sure that Cyber Security is no longer an option; Hackers have become quicker, smarter, and more persistent than ever before.
Frequently Asked Questions About Ransomware Breaches
What is a Ransomware Breach?
A ransomware breach occurs when a hacker gains access to an organization’s systems encrypts the organizations’ files(s) and demands ransom to unlock the files(s) for the organization to restore its services.
What makes Gentlemen Ransomware such a threat to corporations?
The Gentlemen Ransomware breaches are highly sophisticated and target corporate networks with advanced malware techniques that are hard to detect, making it difficult for victims to recover from these types of attacks.
Should you pay the ransom?
From the standpoint of Cyber Security, it is not advisable for an organization to pay the ransom; paying the ransom only contributes to the continuation of future attacks.
How can CERT-IN certified labs assist organizations?
CERT-IN-certified labs assist in providing Compliance-Accepted Assessments, Incident Response, and Advanced Cyber Threat Detection Services.
Final Thoughts: Prepare for Possible Threats
The increase in ransomware attacks (Gentlemen ransomware) is a wake-up call. Companies can lower risk and remain strong through strong cyber-security processes/assessments, and advice from cybersecurity expert IEMLabs CERT-IN. You are going to have to make sure you are ready for anything. You must be ready now – it is NOT an option; it is a MUST!