Ransomware is deployed faster as cybercriminals seek to avoid detection
Ransomware is being deployed within one day of initial access in more than 50 percent of engagements, according to research from Secureworks Counter Threat Unit.
In the last 12 months the median dwell time identified in the annual Secureworks State of the Threat Report has fallen from 4.5 days to less than one day. In 10 percent of cases, ransomware was even deployed within five hours of initial access.
Business leaders worry more about ransomware than the economy
According to a new survey from Censuswide for Veeam Software, UK business leaders rate ransomware as a more significant threat to their organization (43 percent) than the economic crisis (41 percent), skills shortages (34 percent), political uncertainty (31 percent), and Brexit (30 percent).
The survey 100 directors of UK companies with over 500 employees who had suffered a ransomware attack in the past 18 months finds 61 percent are anxious about the prospect of another attack.
Cyber insurance claims for ransomware reach record high
A new report from cyber insurance provider Coalition shows a 12 percent increase in cyber claims over the first six months of this year, driven by the notable spikes in ransomware and funds transfer fraud (FTF).
Companies with over $100 million in revenue saw the largest increase (20 percent) in the number of claims as well as more substantial losses from attacks -- with a 72 percent increase in claims severity from the second half of 2022.
79 percent of organizations are confident in their ransomware defenses
A new report from SpyCloud shows that while 79 percent of organizations say they are confident in their ransomware defenses, 81 percent were affected at least once in the past 12 months.
The study also shows that infostealer infections preceded 22 percent of ransomware events for North American and European ransomware victim companies in 2023. 76 percent of infections that preceded these ransomware events involved the Raccoon infostealer malware.
Only 14 percent get back all their data after a ransomware attack
New research shows that only 14 percent of businesses get back 100 percent of their data following a ransomware attack -- even if they agree to the ransom demand.
The study sponsored by Zerto and conducted by Enterprise Strategy Group also reveals that nearly 60 percent of organizations reported an impact to regulated data, such as personally identifiable information, in successful ransomware attacks.
The changing role of the CTO [Q&A]
Between the rise of competition, the changing regulatory landscape, the evolution of AI and the rise of new threat actors, the role of the CTO can be a challenging one.
What characteristics are needed for the role and how can incumbents ensure that it remains relevant? We spoke to Ajay Keni, CTO at OneSpan, to find out.
Data theft overtakes ransomware as IT pro's biggest worry
Of over 200 IT security decision makers surveyed, data theft is cited as the biggest concern by 55 percent, followed by phishing (35 percent) with ransomware taking third place on 29 percent.
The study from Integrity360 shows that in terms of actual incidents phishing is the most common (46 percent), with data theft second on 27 percent. Ransomware, at only 15 percent, is ranked among the least common incidents being seen by businesses.
Businesses must learn to live with ransomware
Last year, 85 percent of organizations were hit by at least one ransomware attack, according to the Veeam Data Protection Trends Report 2023. With almost all organizations suffering these attacks, it’s clear that the problem is not only widespread but almost inevitable these days. Though this might sound daunting, it’s by acknowledging this fact that we can manage this ever-present threat. So, let’s look at what solutions organizations can utilize to be able to live alongside ransomware.
It’s clear that ransomware attacks are a very real and present threat -- we see this every day, whether we’re watching the national news or sitting in the boardroom. Considering the ubiquity of these attacks, organizations need to be aware that a ransomware attack is no longer a case of ‘if’ you’ll be the target of an attack but ‘how often.’ While a vast number of organizations experienced at least one attack last year, the Veeam Data Protection Trends Report also showed that just under half (48 percent) suffered two or three attacks. This can feel like an overwhelming prospect for an organization of any size, and the natural consequence is that many turn to cyber insurance in search of some peace of mind.
60 percent of healthcare industry cyber incidents impact patient care
A new survey from Claroty of 1,100 cybersecurity, engineering, IT, and networking professionals from healthcare organizations finds 78 percent of respondents experienced a minimum of one cybersecurity incident over the last year.
Perhaps more concerning is that 60 percent of those incidents had a moderate or substantial impact on patient care and 15 percent had a serious impact that compromised patient health and/or safety.
Public ransomware victims increase 100 percent year-on-year
A new report from GuidePoint Security shows a startling 100 percent increase in publicly posted ransomware victims from Q2 2022 to the last quarter.
The study from the GuidePoint Research and Intelligence Team (GRIT) also shows a 38 percent increase in public victims compared to Q1 of this year.
Understanding common internet-facing footholds exploited by bad actors
Ransomware remains a persistent threat with real-world consequences, with the ability to halt business operations, and cause significant reputational and financial damage.
Ransomware incidents have gained the attention of the general public with attacks like the Colonial Pipeline that led to fuel shortages, and WannaCry that led to British hospitals diverting patients. Despite an increased level of awareness at the board level, ransomware attacks continue to plague organizations.
Wary of a recession? Increase your investment in cybersecurity technologies
Leading organizations in all industries have accelerated their digital transformation and change management over the past three years, and for a good reason. According to Deloitte, meaningful digital transformation initiatives can unlock up to $1.25 trillion in market capital across Fortune 500 companies, with similarly positive results demonstrated for mid-range and small enterprises.
The key word here is "meaningful." But what constitutes beneficial change management processes versus directionless spending?
Three-quarters of consumers are ready to ditch a company after a ransomware attack
A new study shows that 75 percent of consumers would switch their business to another company following a ransomware attack.
The survey, from backup appliance company Object First, also reveals that consumers are requesting increased protection from vendors that hold their data, with 55 percent favoring companies with comprehensive data protection measures such as reliable backup and recovery, password protection, and identity and access management strategies.
Combating ransomware: Strategies for defense
In today's interconnected world, the threat of ransomware looms larger than ever before across industries. Malicious actors continue to exploit vulnerabilities, and the dark cloud of ransomware shows no signs of dissipating. Recent data from the Verizon Data Breach Investigations Report (DBIR) shows that cost per ransomware incident doubled over the past two years and remains one of the top action types present in breaches.
In this article, we will explore how ransomware works and what steps organizations can take to protect employees and data from these attacks.
Manufacturing businesses face escalating cyber threats
Two thirds of IT executives in the manufacturing sector believe that their enterprise will be targeted by a cyberattack within the next 12 months.
The study of 300 executives, carried out by CXO Priorities for Quest Software, shows that the most significant threats are seen as ransomware (22 percent), industrial espionage (21 percent), and state-sponsored threats (21 percent).
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