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Bahraini experts in the field of cybersecurity stated that by 2025 the cost of ransomware attacks is expected to reach $10.5 trillion worldwide. They noted that by 2031 a ransomware attack will occur every two seconds with companies, consumers, and devices all exposed to the attack.

The experts expressed their views during a seminar organised by NGN International, the Bahrain-based systems integrator and security service provider. NGN International has been hosting several ‘majlis’ ransomware awareness seminars as part of its drive to develop an awareness of cybersecurity issues. The panelists stressed the importance of Bahraini institutions and companies working to strengthen their cybersecurity measures so that they are protected from ransomware, also known as “extortion software”. These programmes and applications are created with the aim of financial extortion, with criminals demanding ransom payments from their victims in order to cease the cyberattack and return important information.

Ransomware typically falls into two categories of software; one for encryption and the other for blocking. The first type encrypts the device’s data, such as its files, images, etc and these files then become inaccessible without decryption – which is performed in exchange for the ransom. The second type is blocking; these programmes prevent access to the infected device completely and paralyze the entire system.

Experts at the seminar, titled; ‘Ransomware: Response and Recovery’, discussed the best ways to ensure the effectiveness of response and recovery solutions following a ransomware incident. The speakers also addressed the importance of improving cybersecurity systems after this form of cyberattack, the need for companies and organizations to allocate sufficient budgets to maintain their cybersecurity, and the need to work with specialized organizations that can provide support in resisting ransomware attacks. Furthermore, companies and organizations should invest in training for their employees as a cybersecurity-aware workforce will help to protect companies and organizations from ransomware and other forms of cyberattack, ensuring the sustainability of their performance, productivity, and work.

The seminar’s key speakers were; Mr. Fadhel Hameed, Head of IT Infrastructure & Operations Manager at Al Baraka Islamic Bank; and Mr. Tom O’Reilly, Chief Technology & Data Officer at YBA Kanoo Group. The seminar was moderated by Mr. Ali Beshara, Head of Information Security and Risk Management at The Benefit Company.

Experts advised users to ensure that their operating systems were kept up-to-date, thereby reducing the number of vulnerabilities a system might have to exploit. They also advised users to not install programmes until ratifying their reliability and recommended the installation of antivirus software, which detects malware such as ransomware once installed. Antivirus software can also ‘white-list’ programmes that prevent unauthorized applications from being implemented. They emphasized the importance of frequently and automatically backing up important files and systems to the cloud in order to speed up the organization’s recovery following a ransomware incident.