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Paying Ransom Fuels Cost of Recovering from a Ransomware Attack, Sophos Warns

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Sophos, a global leader in next-generation cybersecurity, has announced the findings of its global survey, The State of Ransomware 2020, which reveals that paying cybercriminals to restore data encrypted during a ransomware attack is not an easy and inexpensive path to recovery.

 

In fact, the total cost of recovery almost doubles when organizations pay a ransom. The survey polled 5,000 IT decision makers in organizations in 26 countries across six continents, including Europe, the Americas, Asia-Pacific and central Asia, the Middle East, and Africa.

 

More than half (51%) of organizations had experienced a significant ransomware attack in the previous 12 months, compared to 54% in 2017. In Nigeria, 53% of the organizations surveyed mentioned a ransomware attack in the last one year.

 

Globally Data was encrypted in nearly three quarters (73%) of attacks that successfully breached an organization, while in Nigeria, it was 74%. The average cost of addressing the impact of such an attack, including business downtime, lost orders, operational costs, and more, but not including the ransom, was more than $730,000.

 

This average cost rose to $1.4 million, almost twice as much, when organizations paid the ransom. More than one quarter (27%) of organizations hit by ransomware admitted paying the ransom. The survey also revealed 38% of the organizations that were attacked in Nigeria admitted to paying the ransom.

 

Chester Wisniewski, principal research scientist, Sophos, said “Organizations may feel intense pressure to pay the ransom to avoid damaging downtime.

“On the face of it, paying the ransom appears to be an effective way of getting data restored, but this is illusory.

 

“Sophos’ findings show that paying the ransom makes little difference to the recovery burden in terms of time and cost.

 

“This could be because it is unlikely that a single magical decryption key is all that’s needed to recover. Often, the attackers may share several keys and using them to restore data may be a complex and time-consuming affair.”

 

More than half (56%) the IT managers surveyed were able to recover their data from backups without paying the ransom compared to 44% in the Nigeria.

 

Globally in a very small minority of cases (1%), paying the ransom did not lead to the recovery of data while in Nigeria it was in 10% of cases.

 

This figure rose to 5% for public sector organizations. In fact, 13% of the public sector organizations surveyed never managed to restore their encrypted data, compared to 6% overall.

 

However, contrary to popular belief, the public sector was least affected by ransomware, with just 45% of the organizations surveyed in this category saying they were hit by a significant attack in the previous year.

 

At a global level, media, leisure and entertainment businesses in the private sector were most affected by ransomware, with 60% of respondents reporting attacks.

 

Attackers increase pressure to pay

 

SophosLabs researchers have published a new report, Maze Ransomware: Extorting Victims for 1 Year and Counting, which looks at the tools, techniques and procedures used by this advanced threat that combines data encryption with information theft and the threat of exposure.

 

This approach, which Sophos researchers have also observed being adopted by other ransomware families, like LockBit, is designed to increase pressure on the victim to pay the ransom. The new Sophos report will help security professionals better understand and anticipate the evolving behaviors of ransomware attackers and protect their organizations.

 

“An effective backup system that enables organizations to restore encrypted data without paying the attackers is business critical, but there are other important elements to consider if a company is to be truly resilient to ransomware,” added Wisniewski. “Advanced adversaries like the operators behind the Maze ransomware don’t just encrypt files, they steal data for possible exposure or extortion purposes. We’ve recently reported on LockBit using this tactic.

 

“Some attackers also attempt to delete or otherwise sabotage backups to make it harder for victims to recover data and increase pressure on them to pay. The way to address these malicious maneuvers is to keep backups offline, and use effective, multi-layered security solutions that detect and block attacks at different stages.”


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University.

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FG Bans Emirates Airlines from Operating in Nigeria

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Federal Government has included Emirates Airlines in the list of airlines not allowed to operate in Nigeria.

FG Bans Emirates Airlines from Operating in Nigeria

This is part of measures to curb the spread of COVID-19 in the country.

Hadi Sirika, minister of Aviation, confirmed this via his Twitter handle on Friday.

According to Sirika, the decision was taken following a meeting between the Presidential Task Force (PTF) and European Unions (EU).

The ban would take effect from Monday, September 21, 2020.

“The PTF sub-committee met today with EU Ambassadors to discuss Lufthansa, Air France/KLM ban.

“The meeting progressed well. Emirates Airlines’s situation was reviewed and they are consequently included in the list of those not approved, with effect from Monday the 21st September 2020,” Sirika tweeted.


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Facebook to Open Office in Lagos

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As part of its continued commitment and on-going investment in Africa, Facebook announced it will be opening an office in Lagos, Nigeria – its second office on the African continent.

Aimed at supporting the entire Sub-Saharan Africa region, the office is expected to become operational in H2 2021 and will be the first on the continent to house a team of expert engineers building for the future of Africa and beyond.

Facebook’s office will be home to various teams servicing the continent from across the business, including Sales, Partnerships, Policy, Communications as well as Engineers.

Commenting, Ime Archibong, Facebook’s Head of New Product Experimentation said: “The opening of our new office in Lagos, Nigeria presents new and exciting opportunities in digital innovations to be developed from the continent and taken to the rest of the world.

“All across Africa we’re seeing immense talent in the tech ecosystem, and I’m proud that with the upcoming opening of our new office, we’ll be building products for the future of Africa, and the rest of the world, with Africans at the helm. We look forward to contributing further to the African tech ecosystem.”

The investment of the new Facebook office follows the 2018 opening of NG_Hub, its first flagship community hub space in Africa in partnership with CcHub, and the 2019 opening of a Small Business Group (SBG) Operations Centre in Lagos, in partnership with Teleperformance.

Providing outsourced support to all English-speaking advertisers across Sub-Saharan Africa, the SBG office supports Small Medium Businesses (SMBs) through its Advocacy, Community & Education (ACE) programme, as well as its Marketing Expert sales programmes – all aimed at enabling SMBs to accelerate the growth and development of their businesses.

“Our new office in Nigeria presents an important milestone which further reinforces our ongoing commitment to the region”, commented Kojo Boakye, Facebook’s Director of Public Policy, Africa. “Our mission in Africa is no different to elsewhere in the world – to build community and bring the world closer together, and I’m excited about the possibilities that this will create, not just in Nigeria, but across Africa.”

Since the opening of its first office in 2015, Facebook has made a number of investments across the continent, aimed at supporting and growing the tech ecosystem, expanding and providing reliable connectivity infrastructures and helping businesses to grow locally, regionally and globally.

This includes the recent rollout of its SMB Grants programme in Nigeria and South Africa, aimed at supporting over 900 businesses by providing a combination of cash and ad credits to help small businesses as they rebuild from COVID.

The development of 2Africa, the world’s largest subsea cable project that will deliver much needed internet capacity and reliability across large parts of Africa, as well as its ongoing training programmes across the continent which support various communities including students, SMBs, digital creatives, female entrepreneurs, start-up’s and developers.

Nunu Ntshingila, Regional Director, Facebook Africa, said: “We’re delighted to be announcing our new office in Nigeria. Five years on from opening our first office on the continent in Johannesburg, South Africa, we’re continuing to invest in and support local talent, as well as the various communities that use our platforms.

“The office in Lagos will also be key in helping to expand how we service our clients across the continent.”


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Victor Osimhen Set Make His Debut For Napoli As Lampard Up Against Familiar Foes

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Football fans will enjoy another great weekend of football action as the new football season in Europe continues this weekend on DStv and GOtv.

The pick of Premier League matches this weekend is the meeting of Chelsea and Liverpool at Stamford Bridge on Sunday 20 September, which will air live at 4:30pm on SS Premier League.

The Reds completed a league ‘double’ over the Blues last season, with the teams’ most recent meeting a 5-3 win for the Merseyside club in July.

Liverpool supporters have been concerned at their club’s relative lack of action in the transfer market (certainly compared to Chelsea, who have recruited heavily and brought in world-class talent such as Moroccan attacking midfielder Hakim Ziyech, for example), but manager Jurgen Klopp insists he prefers working with a smaller group of players.

Lille’s Victor Osimhen in action during a UEFA Champions League soccer group stage match between Valencia CF and OSC Lille at Mestalla stadium on 05 November 2019. EPA/Kai Foersterling

Elsewhere, Manchester United will open their campaign with a clash at home to Crystal Palace in the early-evening kick-off on Saturday 19 September, on SS Premier League at 5:30pm.

It will be the first chance for new Red Devils signing Donny van de Beek to have a taste of competitive English football.

Also on Saturday, Everton will face West Bromwich Albion at 12:20pm while Leeds United will face Fulham at 3pm with the day closing off with Arsenal vs West Ham United at 8pm, all on SS Premier League.

The Premier League matches for the weekend will continue on Sunday 20 September with Southampton vs Tottenham Hotspur at 12pm, Newcastle United vs Brighton & Hove Albion at 2pm and Leicester City vs Burnley at 7pm, all live on SS Premier League. On Monday 21 September, Aston Vila vs Sheffield United will air at 6pm and Wolverhampton Wanderers v Manchester City at 8:15pm both live on SS Premier League.

This weekend’s La Liga sees the return to action for champions Real Madrid, who open the defence of their title with a match away to Real Sociedad at Sam Sebastian on the evening of Sunday 20 September showing live on SS La Liga, SS GOtv La Liga and SS GOtv Football at 8:00pm.

La Liga is packed this weekend with other exciting matches airing live on SS La Liga and SS GOtv La Liga. Getafe vs Osasuna will air at 8pm on Friday 18 September, while Villarreal v Eibar at 3pm and Celta Vigo vs Valencia at 8pm will both air on Saturday 19 September.

On Sunday 29 September, Huesca will clash with Cadiz at 3pm and Granada will face Deportivo Alaves at 5:30pm. GOtv will crown the weekend matches with Real Betis vs Real Valladolid at 8pm on Monday 21 September

Chelsea’s Kurt Zouma (left) and Liverpool’s Mohamed Salah battle for the ball during the Premier League match at Anfield, Liverpool.

The headline match from Italy’s topflight this weekend sees champions Juventus open the defence of their title with a match at home to Sampdoria in the late kick-off on Sunday 20 September at 7:45pm on SS Football, SS Variety 3 and SS GOtv Select 1.

All eyes will be on new manager, Andrea Pirlo, who replaced Maurizio Sarri at the head of the Bianconeri in the off season.

Another key game this weekend will give Nigerian striker Victor Osimhen the chance to make his competitive debut for Napoli when they face Parma on Sunday afternoon, having joined the club for a huge fee from Lille a few weeks back. This will air at 11:30am live on SS Football, SS Variety 3, SS GOtv Select 1 and SS GOtv Football.

SuperSport remains the only platform to get English commentary from the legendary La Liga.

Don’t miss the 2020-21 football season on SuperSport on DStv and GOtv. Visit www.dstvafrica.com and www.gotvafrica.com to subscribe or upgrade and join in on the excitement. While you’re on the move, you can stream matches on DStv Now.

 


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