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Ransomware tactics have continued to evolve over the years, and remain a prominent threat to both SMBs and larger organisations. Particularly during the peak of COVID-19, research by IBM found that ransomware incidents ‘exploded’ in June 2020, which saw twice as many ransomware attacks as the month prior, taking advantage of remote workers being away from the help of IT teams. The same research found that demands by cyber attackers are also increasing to as much as £31 million, which for businesses of any size, is detrimental for survival.
In recent months, ransomware attacks have not left mainstream media headlines. And with the number and frequency of ransomware attacks increasing, not to mention the innovation in distribution methods, this should be a wake-up call for organisations to strengthen their defences. Jack Garnsey, Product Manager Security Awareness Training and SafeSend, VIPRE explains that by taking a preventative approach, businesses can take the necessary steps to strengthen their cybersecurity posture. This includes a combination of education, processes, hardware and software to detect, combat and recover from such attacks if they were to arise.
Ransomware in the 21st Century
Ransomware is not a new phenomenon, but its use has grown exponentially and has led to the development of the term ‘Ransomware as a Service’ (RaaS), which is a subscription-based model that enables affiliates to use already-developed ransomware tools to execute attacks.
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Read the original article: Prevention is Better Than Cure: The Ransomware Evolution