All these days, we have discussed the ransomware gangs and their techniques to trap victims. But now, you are going to read some information that might inflict fears in those technologically managing SMBs.
According to an analysis offered by Cybersecurity firm Coveware, the cost of launching a ransomware attack has increased by 60% in recent times; making it tough for the criminals to sustain. But the same study has revealed a startling fact: where the victims could end up paying a hefty penalty for failing to secure their IT assets.
Coveware study says that cyber criminals are deliberately launching fewer attacks as they are getting huge profits by targeting those companies that guarantee a pay day.
Moreover, they have started targeting small companies for whom data means core business and can shell out anything & everything to keep their servers free from malware and encryption.
However, some security analysts view these developments from a different perspective. They say that the activity of ransomware groups has diminished in recent times only because the security posture of enterprises has improved vastly.
Additionally, the law enforcement agencies across the world have tracked down criminals, making it tough for them to survive. And so they are seen changing their money earning tactics by targeting small companies and demanding huge from their targets.
At the same time, ransomware gangs are also opting out for new tactics where they ask the victim either to pay or provide a backdoor to one of their client/partners’ computer network who has the potential to pay a hefty ransom.
Coveware researchers also opinion that the executive order placed by the Biden administration against Russia has also brought a drastic change on criminal gangs that operate on the web.
Those that are functioning from Russia have either shut their door or have been forced to do so by the Russian forces. And so the number of ransomware attacks has decreased, while the ransom demand has increased quadruple.
