Transcript: Ransomware

CIBC Commercial Banking Ransomware

[This video uses animation to convey spoken content.]

[Music plays]

[The CIBC logo appears.]

[Cyber fraud prevention: Ransomware]

[A laptop computer is open on a desk. An email notification appears on the computer.]

>>Narrator: A message arrives from a sender you may or may not recognize.

The message says they are following up on an overdue payment and you must click to review the invoice.

There’s a file attached that contains the invoice.

Be careful: You may have been targeted by a ransomware attack.

[What is ransomware?]

More and more business is conducted online every day, and that puts all of us at increased risk for online fraud.

[A computer shows an online banking account balance decreasing.]

Ransomware is a tool criminals use to extort money from victims. And it can be tricky to spot.

In a ransomware attack, a criminal tricks you into downloading malicious software by disguising it as an important document or link.

When you open the file, a ransomware program steals data and encrypts the files on your device and network, and blocks you from using them.

Fraudsters then demand a ransom payment to give you back access to your systems and the information they have taken.

Ransomware can also spread through local networks, attacking other computers and servers and potentially infecting the entire company.

[Recognize ransomware]

Not all online fraud is easy to spot. Protect yourself by looking out for the following signs.

Emails, SMS, or instant messages that contain suspicious links or attachments, even if they come from someone you know. Email addresses are easy to fake.
Unusual file attachments, or file types you don’t recognize.
Incorrect grammar and spelling errors.
And branding that doesn't quite match the sender or brand’s usual style.

[Protect yourself]

You can protect yourself and your business by remembering these 5 simple rules:

[Create an IT plan]

Make sure your IT service providers are prepared with enhanced defenses; help them create an impact assessment and put a recovery plan in place; and ensure all devices in your network receive regular system updates.

[Back up your data]

Back up all your files regularly. And store your backups offline, in a device that’s not connected to the same network.

[Don’t engage]

If you receive a suspicious email or text, don’t respond, don’t click any links, and don’t open any file attachments.

[Protect your accounts]

Regularly update your passwords and never use the same password across multiple accounts. Enable two-step or multi-factor login authentication for your accounts.

[Protect your email]

Turn on email spam filters. And pay attention to browser and spam-filter warnings.

Cybercrime is on the rise, but you can protect yourself, and your business.

[To learn more about fraud, visit us.cibc.com/FraudPrevention.]

[Legal disclaimer: The CIBC logo is a trademark of CIBC.]