Locking Out Cybercriminals: How to Stay Safe from Ransomware

We tend to take our computers for granted these days. We do so much with them, from business to shopping to streaming and more. But what if one day, instead of your normal computer home screen popping up when you turn it on, you see something… unsuspected. An ominous message— something like “Access to your files and private data has been locked. Enter your payment details to gain access.” And then a countdown clock, ticking away, threatening your information with every second. 

This is the reality of ransomware. While hopefully you’ll never encounter one, the reality is that every link and email attachment has the potential to be a trap. Cybercriminals hope to trick you into opening a link or attachment that contains a specific type of malware called ransomware.  Once ransomware is on your computer, it does exactly what the name implies. It holds data on your computer or network hostage until you’ve paid a ransom. 

How Ransomware Works

Ransomware is software that encrypts, or locks up, data on your computer. The cybercriminal will typically offer a decryption key to unlock it. Depending on the size of their target, the scammers may demand hundreds, thousands, or even millions of dollars in order to release data. They may demand payment in the form of cryptocurrency, like Bitcoin, so that their activity can’t be tracked. 

Ransomware attacks often spread through phishing emails or malicious links, making unsuspecting users easy targets. They can also manifest as popups or even password challenges. Once the ransomware is deployed, victims may face intense pressure to pay quickly, as attackers often set deadlines to escalate the threat.

The Impacts of Ransomware Attacks

Ransomware incidents can have major impacts beyond just a single user, or even a single company. After cybercriminals forced a pipeline company to shut down its supply by locking its computers until a ransom was paid, the southeast US saw a gas shortage. Within a week after that, there was a national meat shortage because one of the world’s largest meat suppliers was the victim of a ransomware attack. 

Ransomware can have major financial implications, too. In one case in 2023, San Bernadino county’s entire computer system was infected with ransomware. The attackers demanded over a million dollars in exchange for the key. Even after paying the ransom, the county lost data dating back to 2018, and won’t have a replacement system in place until 2025.

These fraudsters went for the big score against big targets, but individuals are targeted as well. Scammers will threaten to delete data or expose personal secrets if their demands aren’t met. So what can you do to protect yourself? 

Protecting Yourself from Ransomware

It starts with a link or email attachment that looks perfectly innocent. After all, nobody would click a link that says “Install malware now!” Instead, fraudsters hide these traps in plain sight. That’s why the first rule of protecting yourself from ransomware is never to click on links or open attachments from unknown sources. That includes emails from unknown senders and websites that may trigger a warning in your browser telling you that they aren’t secure. 

The second rule of avoiding ransomware is to verify email senders. A favorite trick of scammers is to send emails from addresses that look similar to legitimate ones. For example, they might use a lowercase l instead of the number 1. Or you’ll get an email from “Amozon” or “Gogle.” They may also dress up an email with stolen logos or text from legitimate companies or even government entities to make you feel secure. 

There are lots of other basic, common-sense recommendations to help you stay safe online and protect yourself from ransomware:

• Keep Your Antivirus Software Up to Date: Regular updates ensure your antivirus program can detect and block the latest ransomware threats before they infiltrate your system.
• Avoid Suspicious Websites: Cybercriminals often hide malicious software on unsecured or fake websites, so sticking to trusted sites reduces your risk of infection.
• Don’t Plug in Unknown USB Drives: USB drives can carry ransomware designed to activate as soon as they’re connected, making it important to avoid using drives from unknown sources.
• Keep Your Data Backed Up on an External Drive: Regularly backing up data ensures you can restore your files without paying a ransom if your system is attacked.

The bottom line is to be cautious and be aware. Cybercriminals will always be working on new ways to trick you, so you need to be informed about what the latest threats actually are. 

Stay Safe Online with Casey State Bank

Here at Casey State Bank, we take our customers’ security very seriously. That’s why we’ve adopted security measures like multifactor authentication (MFA) and ID TheftSmart enrollment, to make sure that your banking data is as secure as possible. We also have a library of SAFE Security topics at our Casey State Bank Learning Center. Stop by today to learn more about how to stay safe online!