{"id":48176,"date":"2021-05-03T10:50:11","date_gmt":"2021-05-03T02:50:11","guid":{"rendered":"https:\/\/version-2.com.sg\/?p=33139"},"modified":"2022-04-20T12:29:07","modified_gmt":"2022-04-20T04:29:07","slug":"be-prepared-how-anti-ransomware-can-save-you-from-potential-financial-loss","status":"publish","type":"post","link":"https:\/\/version-2.com\/en\/2021\/05\/be-prepared-how-anti-ransomware-can-save-you-from-potential-financial-loss\/","title":{"rendered":"Be prepared: How anti-ransomware can save you from potential financial loss"},"content":{"rendered":"
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If you think that you\u2019ll never be hit by a ransomware attack, think again. The Cyber Security Agency of Singapore (CSA) received\u00a061 reports of ransomware<\/a>\u00a0attacks in 2020, almost twice what was reported the year before. One of the possible reasons for the spike is the rise in Work From Home (WFH) arrangements, where many Singaporeans may be working with poorly secured set-ups.<\/p>\n

Unless proper safeguards are put in place, no one is immune to the risk of ransomware. To avoid any invasions of your personal data and potential financial loss from a ransomware attack, prevention is your best digital security strategy. This guide will take you through the basics of ransomware, how it spreads, and how best to guard yourself against it.<\/p>\n\n

What is ransomware?<\/strong><\/h3>\n

There are two main types of\u00a0ransomware<\/a>, namely locker ransomware, which locks your device or computer, and crypto ransomware, which restricts access to personal data and files through encryption. The objective is the same: preventing access to your personal files.<\/p>\n

After holding a victim\u2019s personal files hostage, the attacker then demands a ransom from them to regain access to the data, with instructions on how to pay for the decryption key. The costs can range from a few hundred dollars to thousands, payable to cybercriminals often through untraceable cryptocurrency such as Bitcoin. This kind of malware can also have a built-in timer with a payment deadline, where the price to unlock the data increases with time.<\/p>\n\n

How ransomware infections happen and spread through the web<\/strong><\/h3>\n

One of the most common delivery systems for ransomware is spam email. It all begins with a seemingly well-intentioned email that contains malicious links or attachments. Once you click the link or download the attachment, a ransomware downloader is stored on the computer without your knowledge.<\/p>\n

This ransomware downloader then copies the ransomware program to your system network through backdoor entry. When a device is successfully compromised, malware blocks the screen or encrypts data stored on the disk and a ransom demand with payment details is displayed to the victim.<\/p>\n

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How to prevent ransomware<\/strong><\/h3>\n

Ransomware is a constantly evolving global threat in the cybersecurity landscape and digital hubs like Singapore are particularly vulnerable.\u00a0A report from CSA<\/a>\u00a0showed an emerging trend of more sophisticated and targeted ransomware attacks. Do not risk financial loss by becoming a victim of ransomware. Here are a few tips that will keep you protected:<\/p>\n\n