Banks Asked To Update ATM Software To Prevent 'WannaCry' Cyberattack

Banks Asked To Update ATM Software To Prevent 'WannaCry' Cyberattack

Banks Asked To Update ATM Software To Prevent 'WannaCry' Cyberattack

However, as time passes, more and more security researchers across the world are coming up with fixes for the WannaCry ransomware. Ransomware is a particularly intrusive form of malware that locks down your computer and prevents users from doing certain activities, like opening a Web browser or accessing the Internet entirely. The attackers hijack organizations' files and demand ransom money, in the form of Bitcoin, to release the files. That's why it's called ransomware.

The software tools to create the attack were revealed in April among a trove of NSA spy tools that were either leaked or stolen. Companies that still rely on a legacy version of Windows can pay Microsoft a subscription fee to continue receiving custom support and patches, but in this case Microsoft made the decision to issue a patch for all Windows XP setups "Today many of our customers around the world and the critical systems they depend on were victims of malicious "WannaCrypt" software".

Windows 10, launched in 2015, was not vulnerable to the ransomware and is widely viewed as a big step forward in safety - but it will be many years before all the older software is retired.

"When any technique is shown to be effective, there are nearly always copycats", said Steve Grobman, chief technology officer of McAfee, a security company in Santa Clara, California.

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Microsoft itself has come under fire for not providing regular security updates for older versions of its software.

The cyberextortion attack hitting dozens of countries spread quickly and widely thanks to an unusual confluence of factors: a known and highly risky security hole in Microsoft Windows, tardy users who didn't apply Microsoft's March software fix, and a software design that allowed the malware to spread quickly once inside university, business and government networks. FedEx, Nissan, and the United Kingdom's National Health Service were among the victims. It forced the closure of multiple hospitals and ambulance companies, among other services and institutions. Two big telecom companies, Telefónica of Spain and Megafon of Russian Federation, were also hit.

This cautionary example goes to show just how important it is to keep both your personal and business computers updated - and not just dismiss update notifications.

For decades, experts have warned us about cybersecurity and data risks. Bad guys generally target Windows far more than Apple's operating system because there are vastly more computers running Windows around the world. The ransomware will specifically scan for unpatched machines that have the Server Message Block vulnerability exposed. However, Microsoft issued patches to fix that vulnerability in its software weeks ago that could greatly reduce the chances of intrusion. There are also a lot of computers in use that simply couldn't install Microsoft's update.

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Back up your data on an offline hard drive.

If your system has been compromised, then, first of all, don't every try to pay them as it will encourage the hackers.

Despite the discovery of an alleged "kill switch" for the ransomware over the weekend, many Asian countries like India, Japan, South Korea and China have been hit by the malware that began its spread from Europe on Friday.

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