Mandiant, a prominent cybersecurity firm and subsidiary of Google, highlights the escalating creativity of malicious hackers as corporations reinforce their cyber defenses. These hackers have extended their targets to include the children of corporate executives, employing ransomware tactics to hold personal information hostage.
Ransomware assaults, orchestrated by cybercriminals, involve infiltrating companies or entities to pilfer data, subsequently withholding it until a ransom is paid. This maneuver renders victims unable to access vital data, often resulting in significant disruptions until the demanded payment is made.
In recent years, ransomware incidents have surged in the United States. Notable examples include the 2021 takedown of a 5,000-mile gas pipeline on the East Coast by a Russian hacker. In February, Chain Healthcare, a subsidiary handling payment management for healthcare giant UnitedHealth Group, experienced a ransomware attack, causing disruptions in prescription insurance claims processing.
The entry point for ransomware into a company's systems can be as innocuous as an employee inadvertently clicking a link in a phishing email. Despite companies fortifying their defenses, cybercriminals have adapted, becoming more ingenious in their methods, according to Mandiant Chief Technology Officer Charles Carmakal.
At the RSA Conference in San Francisco, Carmakal revealed that some attackers exhibit "no rules of engagement," resorting to tactics like targeting executives' children. He recounted instances where threat actors conducted SIM swapping on the phones of executive's children, using their numbers to make deceptive calls to executives. SIM swapping involves criminals remotely accessing a cellphone's SIM card to assume control over calls and messages.
Carmakal explained that ransomware hackers utilize various methods to gain access to cellphones, including spoofing fake caller IDs. He underscored the psychological impact on executives who receive calls seemingly from their children but are met with another voice, presenting a distressing dilemma.
The proliferation of such scams places additional strain on executives, compelling them to navigate between safeguarding customers, employees, and their families. Carmakal highlighted Google's forecast, anticipating a rise in younger malicious actors leveraging advanced techniques like social engineering through text messages for cybercrimes.
To mitigate the risk of ransomware, Microsoft advises exercising caution by avoiding suspicious websites, refraining from opening file attachments from unfamiliar sources, and being vigilant of links on social media platforms.
