Panda Security Launches its Practical Security Guide for Avoiding Cyberextortion in Businesses

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Ransomware is one of the most common cyberextortion threats among cybercriminals; Companies are the main target; In 2016 it is believed that we will see the highest ever levels of cyberattacks

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Security in large companies is one of the most important factors in avoiding extortion on the corporate network by cybercriminals.

This is why Panda Security has launched its Practical Security Guide for avoiding cyberextortion, in which it states that Spanish companies are the ones that suffer the highest rate of data theft in Europe. The guide also states that in the coming year, Spain will become the European country with the highest rate of cyberattacks.

Cyberextortion: a limitless threat
In recent years, the massive growth in cyberattacks has led to companies devoting more time and resources to combating the problem, and finding a security solution that guarantees greater control of their files.

The majority of attacks that use this type of extortion have different origins: 39% come from insecure or fraudulent websites, 23% from programs downloaded from the Internet, and 19% come from infected emails or attached documents.

The cyberextortion process starts by blackmailing victims into paying to avoid the kidnapping of their files. Once the user agrees, the payment is completed with Bitcoins. Later, the victim receives an email with the code to decrypt the data, although many times payment doesn’t guarantee that the company won’t become a victim again in the future.

Type of malware: How do they affect the companies?
Businesses are considered the main target of this type of malware, as its aim is to cause as much damage as possible:

  • Ramsonware, the most common are Cryptolocker, Cryptowall, and CoinVault, which target the integrity of the file stored on the PC
  • APT (Advanced Persistent Threat), is a system that manages and controls the security of the computer from inside
  • Exploit, takes advantage of a security flaw in communication protocols between computers
  • Phishing, creates a false URL to steal bank details and identity
  • Trojan, installs different applications that allow hackers to control the computer
  • Worm, is able to infect all computers

Panda Security’s 5 tips for avoiding cyberextortion
1. Advise your users: keep them up to date with the risks that are associated with not having a good security solution
2. Set out rules for online use at work: assign a series of rules that control the reputation of websites that access is granted to.
3. Design a solution to your needs: make sure you have the right solution for your business, and keep it updated.
4. Establish protocols: control installation and running of software. Also, examine what applications have been installed periodically.
5. Always update: set out an update policy and block certain applications on your computers.

About Panda Security
Founded in 1990, Panda Security is the world's leading cloud-based security solutions company. Based in Spain, the company has a direct presence in over 80 countries, products translated into more than 23 languages and millions of users worldwide. Its mission is to simplify the complexity by creating new and better solutions to safeguard the digital life of its users.

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Tim Hamilton
Panda Security
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