Derailing ransomware - today's great train robbery

It wasn't too long ago that the criminal enterprise of choice would see thieves jump aboard a moving train, navigate the carriages, neutralise the guards, get through locked doors, and ransack the locomotive of its valuable jewels and gold. In 2025, there is a similar motive at play, but the heists have shifted from the Wild West to the World Wide Web.
Cyberattacks are today's great train robberies and they're increasingly common. Recent research from Rubrik Zero Labs found 92 per cent of Australian organisations experienced a cyberattack last year, and the attackers are only growing more sophisticated.
Ransomware is one of the most common types of cyberattacks, comprising 20 per cent of all attacks, and those behind them do not discriminate. According to the same Rubrik Zero Labs' research, attackers have evolved, with 78 per cent of Australian victims reporting the threat actors were able to at least partially harm backup and recovery options. In more than a third (35 per cent) of cases, the attackers were completely successful.
Why are attackers targeting backups? If they can successfully compromise these critical data copies, the victim's ability to recover data under their own steam will be severely impacted. The thinking is, if they can take these down, then the victim will be forced to pay the ransom.
And it's working.
Rubrik Labs Research also found that of the Australian firms hit with a ransomware attack last year, more than 90 per cent paid the ransom to recover their data.
While paying an attacker may allow a business to recover its data or stop a threat, it also supports the cybercrime business model. If a ransomware attack works once, what's going to stop it working again, and again, and again. Paying a ransom just fuels the fire.
These payments may have previously gone unreported, however late last month the federal government introduced mandatory ransomware payment reporting requirements. This could change the calculus for local organisations as they seek to avoid the reputational risk of payments going public.
Unfortunately, despite best efforts, there is no silver bullet to protect against every single cyberattack. You can't prevent the unpreventable. So the only thing that matters is how quickly you can recover.
There are many reasons why the frequency of cyberattacks, like ransomware, are increasing. These include the rising use of AI by cybercriminals, more sophistication of attacks, significant financial incentives, uneasy geopolitical climates, digitisation of organisations, and the shortage of cybersecurity professionals.
With this in mind, adopting a preemptive recovery posture - one that recognises a motivated attack will eventually be successful - organisations can take the initiative and recover faster than attackers can adapt.
So, it is imperative to be prepared with a recovery plan. To prepare for the worst. To adopt an "assumed breach" mindset.
In short, cyber resilience strategies reduce the severity of ransomware threats. Even if an organisation's systems are breached and held to ransom, secure backups ensure the business can quickly assess the scale of the breach, understand the scope of the compromise, and rapidly recover operations - all without paying a ransom.
This will lead to a decline in Australian businesses paying out ransoms and perpetuating the cybercrime business model. If the nation is no longer seen as a soft target, if robbers never come away with any loot, they'll shift their attention elsewhere - or better yet, leave the looting life behind.
Just like trains in the Wild West, businesses need multiple defences. Even if the thieves make it onto the train, past the guard and get through the locked door, it's not like valuables are out in the open waiting to be taken. They're in safes, requiring different keys and combinations to open. Cyber resilience strategies are an organisation's impenetrable safe - ensuring the crown jewels and critical backups needed to keep the train in motion are out of an attacker's reach.
It wasn't too long ago that the criminal enterprise of choice would see thieves jump aboard a moving train, navigate the carriages, neutralise the guards, get through locked doors, and ransack the locomotive of its valuable jewels and gold. In 2025, there is a similar motive at play, but the heists have shifted from the Wild West to the World Wide Web.
Cyberattacks are today's great train robberies and they're increasingly common. Recent research from Rubrik Zero Labs found 92 per cent of Australian organisations experienced a cyberattack last year, and the attackers are only growing more sophisticated.
Ransomware is one of the most common types of cyberattacks, comprising 20 per cent of all attacks, and those behind them do not discriminate. According to the same Rubrik Zero Labs' research, attackers have evolved, with 78 per cent of Australian victims reporting the threat actors were able to at least partially harm backup and recovery options. In more than a third (35 per cent) of cases, the attackers were completely successful.
Why are attackers targeting backups? If they can successfully compromise these critical data copies, the victim's ability to recover data under their own steam will be severely impacted. The thinking is, if they can take these down, then the victim will be forced to pay the ransom.
And it's working.
Rubrik Labs Research also found that of the Australian firms hit with a ransomware attack last year, more than 90 per cent paid the ransom to recover their data.
While paying an attacker may allow a business to recover its data or stop a threat, it also supports the cybercrime business model. If a ransomware attack works once, what's going to stop it working again, and again, and again. Paying a ransom just fuels the fire.
These payments may have previously gone unreported, however late last month the federal government introduced mandatory ransomware payment reporting requirements. This could change the calculus for local organisations as they seek to avoid the reputational risk of payments going public.
Unfortunately, despite best efforts, there is no silver bullet to protect against every single cyberattack. You can't prevent the unpreventable. So the only thing that matters is how quickly you can recover.
There are many reasons why the frequency of cyberattacks, like ransomware, are increasing. These include the rising use of AI by cybercriminals, more sophistication of attacks, significant financial incentives, uneasy geopolitical climates, digitisation of organisations, and the shortage of cybersecurity professionals.
With this in mind, adopting a preemptive recovery posture - one that recognises a motivated attack will eventually be successful - organisations can take the initiative and recover faster than attackers can adapt.
So, it is imperative to be prepared with a recovery plan. To prepare for the worst. To adopt an "assumed breach" mindset.
In short, cyber resilience strategies reduce the severity of ransomware threats. Even if an organisation's systems are breached and held to ransom, secure backups ensure the business can quickly assess the scale of the breach, understand the scope of the compromise, and rapidly recover operations - all without paying a ransom.
This will lead to a decline in Australian businesses paying out ransoms and perpetuating the cybercrime business model. If the nation is no longer seen as a soft target, if robbers never come away with any loot, they'll shift their attention elsewhere - or better yet, leave the looting life behind.
Just like trains in the Wild West, businesses need multiple defences. Even if the thieves make it onto the train, past the guard and get through the locked door, it's not like valuables are out in the open waiting to be taken. They're in safes, requiring different keys and combinations to open. Cyber resilience strategies are an organisation's impenetrable safe - ensuring the crown jewels and critical backups needed to keep the train in motion are out of an attacker's reach.
It wasn't too long ago that the criminal enterprise of choice would see thieves jump aboard a moving train, navigate the carriages, neutralise the guards, get through locked doors, and ransack the locomotive of its valuable jewels and gold. In 2025, there is a similar motive at play, but the heists have shifted from the Wild West to the World Wide Web.
Cyberattacks are today's great train robberies and they're increasingly common. Recent research from Rubrik Zero Labs found 92 per cent of Australian organisations experienced a cyberattack last year, and the attackers are only growing more sophisticated.
Ransomware is one of the most common types of cyberattacks, comprising 20 per cent of all attacks, and those behind them do not discriminate. According to the same Rubrik Zero Labs' research, attackers have evolved, with 78 per cent of Australian victims reporting the threat actors were able to at least partially harm backup and recovery options. In more than a third (35 per cent) of cases, the attackers were completely successful.
Why are attackers targeting backups? If they can successfully compromise these critical data copies, the victim's ability to recover data under their own steam will be severely impacted. The thinking is, if they can take these down, then the victim will be forced to pay the ransom.
And it's working.
Rubrik Labs Research also found that of the Australian firms hit with a ransomware attack last year, more than 90 per cent paid the ransom to recover their data.
While paying an attacker may allow a business to recover its data or stop a threat, it also supports the cybercrime business model. If a ransomware attack works once, what's going to stop it working again, and again, and again. Paying a ransom just fuels the fire.
These payments may have previously gone unreported, however late last month the federal government introduced mandatory ransomware payment reporting requirements. This could change the calculus for local organisations as they seek to avoid the reputational risk of payments going public.
Unfortunately, despite best efforts, there is no silver bullet to protect against every single cyberattack. You can't prevent the unpreventable. So the only thing that matters is how quickly you can recover.
There are many reasons why the frequency of cyberattacks, like ransomware, are increasing. These include the rising use of AI by cybercriminals, more sophistication of attacks, significant financial incentives, uneasy geopolitical climates, digitisation of organisations, and the shortage of cybersecurity professionals.
With this in mind, adopting a preemptive recovery posture - one that recognises a motivated attack will eventually be successful - organisations can take the initiative and recover faster than attackers can adapt.
So, it is imperative to be prepared with a recovery plan. To prepare for the worst. To adopt an "assumed breach" mindset.
In short, cyber resilience strategies reduce the severity of ransomware threats. Even if an organisation's systems are breached and held to ransom, secure backups ensure the business can quickly assess the scale of the breach, understand the scope of the compromise, and rapidly recover operations - all without paying a ransom.
This will lead to a decline in Australian businesses paying out ransoms and perpetuating the cybercrime business model. If the nation is no longer seen as a soft target, if robbers never come away with any loot, they'll shift their attention elsewhere - or better yet, leave the looting life behind.
Just like trains in the Wild West, businesses need multiple defences. Even if the thieves make it onto the train, past the guard and get through the locked door, it's not like valuables are out in the open waiting to be taken. They're in safes, requiring different keys and combinations to open. Cyber resilience strategies are an organisation's impenetrable safe - ensuring the crown jewels and critical backups needed to keep the train in motion are out of an attacker's reach.
It wasn't too long ago that the criminal enterprise of choice would see thieves jump aboard a moving train, navigate the carriages, neutralise the guards, get through locked doors, and ransack the locomotive of its valuable jewels and gold. In 2025, there is a similar motive at play, but the heists have shifted from the Wild West to the World Wide Web.
Cyberattacks are today's great train robberies and they're increasingly common. Recent research from Rubrik Zero Labs found 92 per cent of Australian organisations experienced a cyberattack last year, and the attackers are only growing more sophisticated.
Ransomware is one of the most common types of cyberattacks, comprising 20 per cent of all attacks, and those behind them do not discriminate. According to the same Rubrik Zero Labs' research, attackers have evolved, with 78 per cent of Australian victims reporting the threat actors were able to at least partially harm backup and recovery options. In more than a third (35 per cent) of cases, the attackers were completely successful.
Why are attackers targeting backups? If they can successfully compromise these critical data copies, the victim's ability to recover data under their own steam will be severely impacted. The thinking is, if they can take these down, then the victim will be forced to pay the ransom.
And it's working.
Rubrik Labs Research also found that of the Australian firms hit with a ransomware attack last year, more than 90 per cent paid the ransom to recover their data.
While paying an attacker may allow a business to recover its data or stop a threat, it also supports the cybercrime business model. If a ransomware attack works once, what's going to stop it working again, and again, and again. Paying a ransom just fuels the fire.
These payments may have previously gone unreported, however late last month the federal government introduced mandatory ransomware payment reporting requirements. This could change the calculus for local organisations as they seek to avoid the reputational risk of payments going public.
Unfortunately, despite best efforts, there is no silver bullet to protect against every single cyberattack. You can't prevent the unpreventable. So the only thing that matters is how quickly you can recover.
There are many reasons why the frequency of cyberattacks, like ransomware, are increasing. These include the rising use of AI by cybercriminals, more sophistication of attacks, significant financial incentives, uneasy geopolitical climates, digitisation of organisations, and the shortage of cybersecurity professionals.
With this in mind, adopting a preemptive recovery posture - one that recognises a motivated attack will eventually be successful - organisations can take the initiative and recover faster than attackers can adapt.
So, it is imperative to be prepared with a recovery plan. To prepare for the worst. To adopt an "assumed breach" mindset.
In short, cyber resilience strategies reduce the severity of ransomware threats. Even if an organisation's systems are breached and held to ransom, secure backups ensure the business can quickly assess the scale of the breach, understand the scope of the compromise, and rapidly recover operations - all without paying a ransom.
This will lead to a decline in Australian businesses paying out ransoms and perpetuating the cybercrime business model. If the nation is no longer seen as a soft target, if robbers never come away with any loot, they'll shift their attention elsewhere - or better yet, leave the looting life behind.
Just like trains in the Wild West, businesses need multiple defences. Even if the thieves make it onto the train, past the guard and get through the locked door, it's not like valuables are out in the open waiting to be taken. They're in safes, requiring different keys and combinations to open. Cyber resilience strategies are an organisation's impenetrable safe - ensuring the crown jewels and critical backups needed to keep the train in motion are out of an attacker's reach.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Perth Now

39 minutes ago

• Perth Now

ASX falls to three-week low on Iran fears

The Australian sharemarket slipped to a three-week low on Monday, despite Commonwealth Bank reaching a new record high, on the back of fears an Iranian response to the US bombing could see the price of crude oil skyrocket. On a volatile day of trading, the benchmark ASX200 fell 30.6 points or 0.36 per cent to 8,474.9 on Monday – its lowest point since June 3 – although it rallied from down nearly 1 per cent during the afternoon's trading. The broader All Ordinaries also slumped, down 35.50 points or 0.41 per cent to close the session at 8,688. The Aussie dollar also fell on the news out of Iran and is now buying US64.18c. On an overall volatile day, eight of the 11 sectors finished in the red, with financials and the energy sector leading the way. Eight of the 11 sectors fell during a volatile day of trading. Photo: Gaye Gerard / NewsWire Credit: News Corp Australia IG market analyst Tony Sycamore said the sell-off was in line with US futures on well-founded fears after the US conducted strikes with B-2 Stealth Bombers on three Iranian nuclear sites over the weekend. 'The US insists the strikes were aimed at halting Iran's nuclear ambitions, not regime change, but Trump's rhetoric suggests openness to further action, Mr Sycamore said. 'You would have been forgiven for thinking we would have a really volatile session on Monday. 'Whether it's just caution or because we have seen nothing from Iran just yet to shake things up further … we are in a hold until we know more.' One of the bright spots on the ASX was the financial sector, with Commonwealth Bank hitting a fresh record high of $184.41, before closing up 1 per cent to $184.35. Mr Sycamore said Commonwealth Bank remains a 'juggernaut that steamrollers people.' 'I don't know where it stops and when it stops but it's the best of the banks and that is the sector where people want to be,' he said. The ASX fell after the US confirmed bombs were dropped on Iran's nuclear facilities. Photo: Gaye Gerard / NewsWire Credit: News Corp Australia Overall, it was a mixed day for the major banks, with Westpac closing up 0.63 per cent to $33.42. National Australia Bank slipped on the bell, down 0.08 per cent to $38.88 and ANZ dropped 0.63 per cent to $28.21. Energy stocks, which initially bounced on the opening bell, trimmed their earlier gains in line with the oil price but still closed the day in the green. Takeover target Santos closed 1 per cent higher to $7.78 while Woodside Energy traded flat and Ampol gained 0.47 per cent to $5.86. Iron ore miners continued their weakness with market heavyweight BHP slumping 1.57 per cent to $35.64, Rio Tinto dropping 0.33 per cent to $101.83 and Fortescue Metals sliding 1.02 per cent to $14.54. In company news, shares in Australia's largest airline Qantas fell 1.85 per cent to $10.08 on the back of higher oil prices. Discounted retailer The Reject Shop announced shareholders had overwhelmingly voted in favour of a $259m takeover by Canadian discount retailer Dollarama at a meeting on Monday. Homewares and furniture retailer Adairs plunged 20.5 per cent to $2.05 after telling the market that full-year earnings would come in below last year's.

West Australian

42 minutes ago

• West Australian

ASX200 falls on latest Israel-Iran tensions

The Australian sharemarket slipped to a three-week low on Monday, despite Commonwealth Bank reaching a new record high, on the back of fears an Iranian response to the US bombing could see the price of crude oil skyrocket. On a volatile day of trading, the benchmark ASX200 fell 30.6 points or 0.36 per cent to 8,474.9 on Monday – its lowest point since June 3 – although it rallied from down nearly 1 per cent during the afternoon's trading. The broader All Ordinaries also slumped, down 35.50 points or 0.41 per cent to close the session at 8,688. The Aussie dollar also fell on the news out of Iran and is now buying US64.18c. On an overall volatile day, eight of the 11 sectors finished in the red, with financials and the energy sector leading the way. IG market analyst Tony Sycamore said the sell-off was in line with US futures on well-founded fears after the US conducted strikes with B-2 Stealth Bombers on three Iranian nuclear sites over the weekend. 'The US insists the strikes were aimed at halting Iran's nuclear ambitions, not regime change, but Trump's rhetoric suggests openness to further action, Mr Sycamore said. 'You would have been forgiven for thinking we would have a really volatile session on Monday. 'Whether it's just caution or because we have seen nothing from Iran just yet to shake things up further … we are in a hold until we know more.' One of the bright spots on the ASX was the financial sector, with Commonwealth Bank hitting a fresh record high of $184.41, before closing up 1 per cent to $184.35. Mr Sycamore said Commonwealth Bank remains a 'juggernaut that steamrollers people.' 'I don't know where it stops and when it stops but it's the best of the banks and that is the sector where people want to be,' he said. Overall, it was a mixed day for the major banks, with Westpac closing up 0.63 per cent to $33.42. National Australia Bank slipped on the bell, down 0.08 per cent to $38.88 and ANZ dropped 0.63 per cent to $28.21. Energy stocks, which initially bounced on the opening bell, trimmed their earlier gains in line with the oil price but still closed the day in the green. Takeover target Santos closed 1 per cent higher to $7.78 while Woodside Energy traded flat and Ampol gained 0.47 per cent to $5.86. Iron ore miners continued their weakness with market heavyweight BHP slumping 1.57 per cent to $35.64, Rio Tinto dropping 0.33 per cent to $101.83 and Fortescue Metals sliding 1.02 per cent to $14.54. In company news, shares in Australia's largest airline Qantas fell 1.85 per cent to $10.08 on the back of higher oil prices. Discounted retailer The Reject Shop announced shareholders had overwhelmingly voted in favour of a $259m takeover by Canadian discount retailer Dollarama at a meeting on Monday. Homewares and furniture retailer Adairs plunged 20.5 per cent to $2.05 after telling the market that full-year earnings would come in below last year's.

Sky News AU

43 minutes ago

• Sky News AU

AusPost letter stamp prices likely to spike as major change gets pass from consumer watchdog

Australia Post stamp prices could rise significantly from next month, with the country's consumer watchdog deciding not to oppose major changes. AusPost has proposed a price increase of 13.3 per cent for its basic postage rate, which includes standard small and large letters. The shift would see the rate for sending ordinary small letters rise from $3 to $3.40, while the price for large letters, which are those between 125 to 250 grams, would go from $4.50 to $5.10. The Australian Competition and Consumer Commission (ACCC) has decided not to oppose the changes, which will come into effect from July 17 if Minister for Communications Anika Wells does not reject the move, a statement on Monday from the consumer watchdog said. Prices for seasonal greeting card and concession stamps will not be raised under the move, the statement said. ACCC Commissioner Anna Brakey has said AusPost's submission signaled that its standard letter posting service is currently running at a loss. 'We understand that these price increases will mean extra costs for consumers,' Ms Brakey said. 'However, our decision to not object to Australia Post's proposed price increase is based on evidence that the costs to Australia Post of providing the letter service are greater than the revenue it produces." AusPost's submission to ACCC outlined that its letters side of the business is 'in decline', wtith AusPost currently delivering on average just two letters to every Australian household every week. Ms Brakey said the ACCC's decision has recommended that AusPost look into how it can 'alleviate affordability issues for businesses'. 'Further we made recommendations to address a number of other concerns expressed by stakeholders during consultation,' Ms Brakey said. 'We are especially mindful of the impact price changes can have on vulnerable Australians, and so our decision paper recommends that Australia Post increases the number of concession stamps per customer, which is currently capped at 50 per year.' AusPost chief executive Paul Graham said in February the postal business is 'dramatically changing' with the growth of parcel deliveries and ecommerce. 'We're seeing the ongoing decline in mail, we're seeing the ongoing decline in over-the-counter services – be that bill pay or other things that we do,' he said.