Monday, September 30, 2019

Ransomware Attacks Have Doubled in 2019

The scourge of ransomware attacks around the world are well documented, appearing in front-page headlines and disrupting everything from SMBs to local municipalities. 

Even so, the scope of the problem is even more extensive than many people realize. The latest McAfee Labs Threat Report found a 118% rise in ransomware attacks in the first quarter of 2019. 

The precipitous increase follows years of decline for malware as it appeared to fall out of vogue with cybercriminals. However, in 2019, the practice has been monetized by targeting SMBs and local governments, soft targets that don’t often have the resources to effectively update their defenses against ransomware.

The report found that three ransomware strains – Dharma, Ryuk, and GandCrab – are used in the vast majority of attacks, and McAfee notes that a large number of organizations are willing to pay six-figure payments to help ensure that such strategies will continue to adapt and remain relevant well into the future.

Given the high cost of recovering from a ransomware attack, the cybersecurity services that can fortify a company’s defenses are a relative bargain. Especially for SMBs, a strong defensive posture comes with the cost of doing business, and it’s more affordable than cybersecurity failure.

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