S-1 CORPORATION SAMSUNG GROUP AFFILIATE

S-1 (CEO Noh Hee-chan), a total security solution provider, announced on September 9 that the company launched a new solution that can not only prevent damages, but also provide support for the victims to curb increasing ransomware damages to small and medium-sized enterprises.

□ Ransomware continues to damage SMEs
 
With ransomware damages on the rise in recent years, damages are concentrated in small and medium-sized enterprises, raising concerns. 81% of the ransomware attacks reported until last July were directed at SMEs. According to Korea Internet & Security Agency (KISA), 127 cases of ransomware were reported in Korea last year. The number has more than tripled compared to the previous year. In particular, of the 97 cases reported until July, 79 cases involved SMEs small and medium-sized enterprises. Measures to prevent ransomware damages to SMEs seem to be urgent.

Lack of awareness about ransomware is also a problem. According to the investigation of an information security company, when asked about 'ransomware awareness status,’only about 16% of the respondents answered that they were well aware, and 71% answered that they only knew the basic concepts or did not know the details. And about 13% said that they know nothing about ransomware.

Some experts said, “The COVID-19 crisis and the growth of the cryptocurrency market gave wings to ransomware.” As the digital transformation of businesses and social infrastructure is accelerating, they said that targets that can be attacked have been diversified, and the attackers can receive the ransom money easily and safely using Bitcoin.
 
□ A solution to prevent ransomware damage is desperately needed

The reality is that small businesses have no choice but to neglect information security due to the high cost of such a solution and the lack of professional operating personnel. S-1 recognized the seriousness of ransomware damage to small and medium-sized enterprises and prepared a ransomware damage recovery support service as a safeguard. If they subscribe to the damage recovery support service provided by S-1, they can receive the amount necessary for data recovery within the compensation limit in case of ransomware damage. As the service is provided at a low price, it is expected that SMEs will respond positively.

However, to receive disaster recovery assistance service, they must subscribe to the information security solution provided by S-1.

If small and medium-sized enterprises are infected with ransomware, they can sustain damages directly related to their existence, such as leakage of confidential information. So prevention is paramount. S-1 has been continuously launching platform-based solutions customized for SMEs, e.g. the 'anti-ransomware solution' and the 'document centralization solution,' since last year to prevent ransomware.

The representative ransomware prevention service of the S-1 information security platform is the 'anti-ransomware solution'. The 'anti-ransomware solution' automatically detects ransomware infiltrating PCs for attacks, encrypting or damaging files, and immediately deletes infected files. Also, it provides a ransomware shelter so that when abnormal behavior is detected, it automatically saves the original file in the shelter and prevents damages by restoring the original file after the abnormal behavior stops.

Because ransomware sends e-mails disguised as official documents, resumes, and quotations, or disguised as the latest movies downloaded through P2P programs, etc., it can hardly be distinguished from a normal file. This is why it is necessary to introduce a solution that automatically identifies infected files to prevent ransomware.

The cloud-based document centralization solution released last year also helps prevent ransomware damages. Since small and medium-sized enterprises do not have a separate security program and use an unencrypted general Internet network, they are defenseless against security threats. This solution, however, makes it possible to write documents directly in the encrypted cloud server no matter which PC is used. So it is possible to work safely without worrying about security threats.

S-1's ransomware-related solutions are receiving a lot of attention from SMEs, and the average monthly sales this year increased by about 20% compared to the previous year.

" Ransomware is a major issue that determines the existence of small and medium-sized enterprises," said S-1. "We will take the lead in preventing damage to SMEs, the foundation of the national economy, by raising the interest of businesses and society in ransomware."