Ransomware on the Rise: Every Third Cyberattack Now Involves Encryption Threats

TLDR

• Ransomware attacks are on the rise, according to Kaspersky.
• Every third cyberattack now involves ransomware encryption.
• Targeted ransomware groups are becoming more common.
• Kaspersky offers recommendations for businesses to defend themselves.

Kaspersky Urges Businesses to Bolster Defenses

Just ahead of International Anti-Ransomware Day on May 12th, a new report from Kaspersky paints a concerning picture of the global cybersecurity landscape. Their research reveals a significant increase in ransomware attacks, with every third cyber incident now involving encryption threats.

Targeted Ransomware Groups on the Rise

The report highlights a worrying trend of targeted ransomware groups. These groups, unlike random attackers, focus on high-value targets like government agencies, prominent businesses, and individuals within companies. Compared to 2022, Kaspersky observed a 30% rise in the number of such groups worldwide, along with a staggering 71% increase in documented victims.

Lockbit 3.0 Tops the Charts

Kaspersky’s data shows Lockbit 3.0 as the most prevalent ransomware in 2023. This dominance is attributed to a builder leak in 2022, allowing for the creation of custom variants targeting organizations globally. BlackCat/ALPHV ranked second until December 2023, when a collaborative effort by law enforcement disrupted its operations. However, BlackCat’s swift resurgence underscores the adaptability of these cybercriminal groups.

RaaS Platforms Complicate the Fight

Kaspersky’s report also identifies the emergence of Ransomware-as-a-Service (RaaS) platforms as a significant factor complicating the cybersecurity landscape. These platforms make it easier for individuals with less technical expertise to launch ransomware attacks.

Read the full report on the State of ransomware at Securelist.com.

Importance of Proactive Measures

“As ransomware-as-a-service proliferates and cybercriminals execute increasingly sophisticated assaults, the threat to cybersecurity becomes more acute. Ransomware strikes persist as a formidable menace, infiltrating critical sectors and preying on small businesses indiscriminately. To combat this pervasive threat, it’s imperative for individuals and organizations to fortify their defenses with robust cybersecurity measures. Deploying solutions such as Kaspersky Endpoint Security and embracing Managed Detection and Response (MDR) capabilities are pivotal steps in safeguarding against evolving ransomware threats,” commented Dmitry Galov, head of research center, Kaspersky’s GReAT.

Kaspersky emphasizes the need for proactive cybersecurity measures to combat this evolving threat. Their research highlights several best practices for organizations, including:

• Maintaining up-to-date software
• Implementing solutions like Kaspersky Endpoint Security
• Utilizing Managed Detection and Response (MDR) services
• Regularly training cybersecurity personnel

Kaspersky offers a free Anti-Ransomware Tool for Business and provides access to their Threat Intelligence Portal at no cost, empowering businesses to defend against ransomware attacks.