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Business networks vulnerable to evolving ransomware

Corporate networks and business users are increasingly in the crosshairs of cybercriminals, with more than a quarter of ransomware attacks in 2017 targeted at businesses. Kaspersky Lab, the cybersecurity company that produced the data, said that the threat against businesses is increasing as ransomware also evolves rapidly. It said that 26.2 per cent of ransomware attacks in 2017 attacked business users or networks, compared to 22.6 per cent in 2016.

Some of the most disruptive and destructive ransomware attacks in 2017 include WannaCry, ExPetr and BadRabbit, all of which used exploits designed to compromise corporate networks, although their “ultimate goal remains a mystery”, according to Kaspersky Lab.

'Growing criminal interest in corporate targets'

Kaspersky Lab's senior malware analyst, Fedor Sinitsyn, commented: “The headline attacks of 2017 are an extreme example of growing criminal interest in corporate targets.” This is a trend that has been accelerating during 2017 and shows no sign of slowing down, according to the firm. Sinitsyn added: “Business victims are remarkably vulnerable, can be charged a higher ransom than individuals and are often willing to pay up in order to keep the business operational.”

The problem is that even if companies decide to pay the ransom, there's absolutely no guarantee they'll ever get their data back; a significant percentage never do. The data showed that two-thirds – 65 per cent – of businesses that were hit by ransomware in 2017 said they lost access to a significant amount or even all their data. One in six of those who paid up never recovered their data.

This item appears in the following sections:
Fraud Prevention
ID Systems & Services in Fraud Prevention
Minimizing Fraud Procedures

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