b'Company Securit y Threat s - Ransomware and SmishingJack Gerbs, QuanexusRansomware attacks wereguard up against questionable text messages. Most on the rise in 2020, and alltechnology users understand clicking a link in an email indicators suggest thecould be falling into a trap, but we don?t have the same trendwill continue in thesuspicion around text messages yet. A third reason is new year. Ransomware is amany reputable websites use SMS for two-factor form of malware designedauthentication.to encrypt files on a device, rendering any files and the systems that rely on them unusable. Malicious actors then demand ransom in exchange for decryption.The most common methods used to spread ransomware are visiting a compromised website or clicking on a malicious link or attachment in an email. We saw a dramatic increase in ransomware when users went remote last April, but experts expect the number of attacks to continue to grow. Statistically 40% of victims pay the ransom, and criminals used last year to perfect tactics. Basically, all metrics tracking ransomware increased dramatically in 2020.In Q3 of 2020 we saw a 50% increase in ransomware attacks compared to the first six months of the year. The average cost per incident increased from $5,900 in 2019 to $8,100 in 2020. The average loss caused by downtime from a ransomware attack increased from $141,000 in 2019 to $283,000 in 2020.The estimated totalJust like typical Phishing emails, the text messages are cost of ransomwaredesigned to create urgency. The first message looks like a attacks almosttwo-factor authentication message. Since I wasn?t trying doubled year overto log into my Amazon account at the time, the message year increasingmakes me think someone else is trying to log into my from $11.5 billion inaccount. There were a few things that made me pause and 2019 to $20 billionnot click on the link, however. First the message came in 2020. from a phone number, and not in the typical chain I get two-factor codes from Amazon in. The other 2FA codes I Often, small andhad from Amazon were all in the same text chain and did medium sizednot have a link associated with them. Also, the more I businesses arelooked at the message I noticed the odd grammar, and targeted because?don?t? was missing an apostrophe. I received the second many of them do not have the resources to defend againstmessage five hours later. This message is supposed to an attack. Small businesses accounted for 43% of allcreate more urgency. Notice the end of the URL is the cyber-attacks in 2020, and 70% of small businesses saysame random numbers and letters. Also notice there they are not prepared to deal with a cyber-attack. ITshould be a period after ?detected? and Amazon would Security demands change quickly, and many small toprobably capitalize their company name in medium- sized businesses are not able to keep up on theircorrespondence.own. Criminals are finding new ways to steal information and So What is Smishing? money. The technology industry is slowly moving away from SMS authentication to more reliable sources. Read I received two Smishingmessages attempting to look likeour blog on Microsoft?s stand on SMS authentication they came from Amazon. Here. Continue to be vigilant and suspicious of links you click on, even in text messages.Smishing is a form of Phishing over text message or SMSIn need of an IT firm that bridges the gap for many small message. The criminal?s goals are the same as they are inbusinesses who are not able to keep a high quality, typical Phishing attacks. Hackers are either trying to getup-to-date IT department on staff? Contact Quanexus at you to divulge a username and password, install malware937.885.7272 or on your device, or convince you to send them money. Therewww.quanexus.com.are numerous reasons criminals are using text messages instead of email for these attacks. First, the read and response rate is much higher in text messages. 98% of text messages are read, as opposed to only 20% of emails.Additionally 45% of text messages are responded to compared to only a 6% email response rate. Another reason for the shift is most consumers do not have their www.ohiomasonry.org 3'