On June 21, in Ho Chi Minh City, the Southern Information Security Association (VNISA South) in collaboration with the Department of Information and Communications of Ho Chi Minh City organized a workshop on "Ransomware - An attack method that never gets old", showing that Ransomware is increasingly dangerous and currently there is still no complete solution to prevent it.
Ransomware causes significant financial loss
Mr. Ngo Vi Dong, Vice President of Vietnam Information Security Association, Chairman of the Southern Branch said: "Ransomware is an increasing cyber security threat, causing heavy financial and reputational damage to businesses. This workshop aims to emphasize and raise awareness of the business community about the risk of ransomware, and at the same time share effective prevention and response solutions, contributing to protecting cyber security for organizations and more broadly, national cyber security."
Recently, a series of ransomware attacks have emerged strongly, targeting key businesses in Vietnam, causing great damage to businesses and the community. These attacks have paralyzed information systems, disrupted operations and business activities, and caused significant financial losses.
Many large enterprises such as PVOIL, VNDIRECT... have been attacked. The most recent incident was Vietnam Post being attacked by ransomware in June 2024, causing great damage to assets and disrupting business operations. In the first 3 months of 2024, the National Cyber Monitoring Center (NCSC) recorded more than 13,000 information security incidents related to ransomware.
“When attacked by ransomware, businesses are forced to pay large ransoms to retrieve data and restore the system, losing the trust of customers and partners. The damage is not only economic but also has a long-term impact on the reputation and competitiveness of Vietnamese businesses in the international market,” Dr. Pham Van Hau, Executive Committee Member of the Southern VNISA Branch, Director of the Cyber Security Center of Ho Chi Minh City National University, shared at the workshop.
According to Mr. La Manh Cuong, Vice President of Research and Development, General Director of OPSWAT Vietnam, the main reason why businesses in Vietnam become targets of cybercrime is due to inadequate preparation of cybersecurity defense systems. Most businesses in Vietnam have not invested enough resources to deploy effective security measures. In addition, the use of unlicensed software, which is not updated regularly, and the lack of awareness of cybersecurity in the business community also contribute to the increased risk of attack.
Find anti-ransomware solutions
Experts say that most ransomware attacks today involve stealing personal or sensitive commercial data for extortion. That is, with very clear motives and purposes, ransomware poses a huge risk of reputational and financial damage.
Attackers are also exploring ways to use AI to automate and accelerate attacks, create more effective malware, and conduct email scams. Cybercriminals are also combining the growth of connected mobile devices and the Internet of Things (IoT) through 5G, with the potential for cyberattacks to increase in the future.
“To prevent ransomware before a business is attacked, it is necessary to deploy a comprehensive security solution based on the zero-trust philosophy to effectively protect their organization's cybersecurity. Businesses should simultaneously apply specialized security technologies for critical network systems such as content sanitization and reconstruction (CDR) technology, multi-application malware detection technology (Multiscanning), and data leakage prevention (DLP) technology to maximize their cybersecurity defense capabilities. These technologies help eliminate threats hidden in files, detect and prevent malware before they have a chance to penetrate the system,” Mr. La Manh Cuong shared at the workshop.
Not only prevention solutions, but also security and safe data backup are the most effective line of defense in the fight against ransomware. Mr. Tran Trung Dong, Business Development Director, Veeam shared: “Restoring data not only from on-premises systems but also from the cloud, or both, helps businesses get back to work many times faster.
“Having anti-ransomware solutions is essential to help businesses in Vietnam improve their defense capabilities and protect their critical network systems from increasingly sophisticated and continuous cyber attacks. From there, businesses can be more proactive in building disaster recovery and contingency plans (DRP) to minimize disruptions caused by ransomware attacks. We hope to promote cooperation within the cybersecurity community, businesses and stakeholders to have effective anti-ransomware solutions to promote a safe and reliable network environment,” said Mr. Ngo Vi Dong.
BA TAN
Source: https://www.sggp.org.vn/ransomware-ngay-cang-nguy-hiem-post745682.html
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