Security and Risk Management Assignment 2022

SECURITY AND RISK MANAGEMENT

SECURITY AND RISK MANAGEMENT 1
Table of Contents
Introduction.....................................................................................................2
Introduction about ransomware and their impacts........................................2
Variants of ransomware..................................................................................4
WannaCry.....................................................................................................4
Locky ransomware.......................................................................................4
Spider ransomware......................................................................................5
The working mechanism of ransomware........................................................5
Potential threats posed by ransomware..........................................................7
References.......................................................................................................9

SECURITY AND RISK MANAGEMENT 2
Introduction
The security of data is a common issue faced by the companies and the risk
occurs from network attacks are growing quickly. Security-related threats
can occur at any point in the internet networks which directly impact on the
performance of the organizations. ITech is an IT organization that utilizes
data centres for recording the data of consumers and employees but the
management team suffers from the rusk and threats while using computer
networks (Mohurle, and Patil, 2017). This research mainly focuses on the
ransomware attack and as an IT consultant, it is very important to provide
information about cyber-attacks to the staffs. Ransomware is a part of the
malware attack where the criminals send unwanted signals that affect
computing networks and encrypt the data of consumers. There are major
four sections will be included in this report, for example, impacts of a
ransomware attack, variants of a ransomware attack, the working
mechanism of this attack and potential threats posed by ransomware.
Introduction about ransomware and their impacts
Ransomware is a subpart of the malware attack in which the data of
consumers is blocked with the help of encryption and malicious techniques.
It is one of the dangerous cyber-attacks that directly impact on the personal
data of consumers and demand ransom from the companies (Mauraya, et
al., 2017). The motive of hackers is to earn money by collecting the data of
companies and payment is often obtained from the virtual currency
including bitcoin.
Figure: Ransomware attack

SECURITY AND RISK MANAGEMENT 3
(Source: Jin, et al., 2018)
A recent study identified that ransomware type of attack can be spread from
one computer to another with the help of traffic signals and malicious
emails. In which the criminals use the remote desktop protocols and
unauthentic networks for performing malicious activities in the computer
systems used by the companies.
A recent stud argued that the rate of a ransomware attack is increasing
very fast because most of the consumers use third party applications and
unauthentic networks for accessing their account (Jin, et al., 2018).
Moreover, hackers enter into the main server by transferring the unwanted
signals to the networks and block the communication channels linked with
the computer systems and servers. More than 45% of companies were
suffered from a ransomware attack in the last five years where the criminals
collected all reliable data and demanded ransom from the organizations.
Therefore, it is stated that ransomware is a common security issue which
has the potential to reduce the security of networks and encrypt the
personal data centres of the companies.
Ransomware is a type of security attack that also affects the societies and
sensitive data of the organizations. According to O'Dowd, (2017),
ransomware attack provide a platform to the users in a society where they
can move towards the hacking and data breach-related issues which can
negatively impact on the next generation and young adults. Moreover, it