A recent report by Trend Micro suggests that SMBs are the weak link in IT supply chains.
Ransomware is one of the many threats that small and medium business enterprises (SMBs) face on an almost daily basis. Attacks can damage their reputation and wallet and bring their day-to-day operations to a crunching halt.
Ransomware attacks have left many small and medium businesses (SMBs) vulnerable to threats without the knowledge of IT professionals. Research by Trend Micro indicates that cyber practices among SMBs “significantly” threaten the supply chain of partner organizations. The lack of cybersecurity among SMBs could proliferate ransomware and other cyber threats for companies worldwide.
Supply chain ransomware attacks
Supply chain ransomware attacks happen when the breach of one company causes another to get infected with ransomware. Supply chain ransomware attacks are hazardous because multiple organizations can be infected at once.
Ransomware often attaches itself to legitimate software programs. Victims don’t know their systems have been compromised until the files are encrypted, and a ransomware notice is displayed on the screen.
The ransomware attack starts when the user clicks on a file attachment from a spoofed email, tricking the user into downloading malicious software onto their computer. Ransomware encrypts data on the victim’s system, renders it unusable, and then displays a ransom note.
Some ransom notices are written in a foreign language, making them difficult to read, but the options are typically clear: either pay up or lose the files. In most cases, ransomware attacks include tools that allow remote access to the compromised system. The attacker will often have unlimited control over the victim’s machine until they’ve been paid off.
SMBs are the future, and their increased online activities prove that. But if SMBs’ security precautions aren’t up to date, their products can be so severely impacted that even partners might not survive the infestation.
Ransomware will multiply exponentially as long as there is no fear of being caught and enforcement is lacking. Authorities must band together with small businesses to help them achieve optimal cybersecurity before they lose more ground to these attacks.