Overview

In October 2021, SpyCloud released its Ransomware Defense Report, an analysis of IT security leaders’ experiences with ransomware attacks. 72% of surveyed organizations were affected by ransomware last year, and 79% agree that reports of high-profile attacks, including the one on Colonial Pipeline that resulted from a compromised password, have “significantly elevated” their organization’s concerns about weak or stolen credentials.

SpyCloud acts as a ransomware early warning system, detecting and remediating compromised credentials to ensure they cannot be used for ransomware attacks. SpyCloud is uniquely able to identify when a user’s device is infected by data-siphoning malware, which allows criminals to impersonate that user by recording every facet of their online activity – including their browser fingerprint, system information, account logins, and web session cookies. These users are extremely high risk to the organization because criminals are able to use this stolen data to bypass multiple security controls including multi-factor authentication. SpyCloud also continuously monitors partner breach exposures to mitigate the risk of attack through third parties with privileged access to data or networks.

Stolen credentials obtained through breaches and malware-infected devices can become criminals’ all-access pass to corporate systems. SpyCloud’s proactive prevention is an efficient and cost-effective defense against ransomware. By alerting security teams swiftly when employee credentials become available to criminals and remediating this critical threat vector automatically, SpyCloud negates one of the riskiest entry points for ransomware.