Ransom has taken quantum leap

#Ransomware is executed in a variety of ways, for different reasons and motives. The technology also carries risks however. It may lead to a new wave of #cybercrime, as quantum computers can crack even the most elaborate forms of encryption in use today. This takes a quantum leap in the cyber world.

Ransomware has quickly become the most prominent and visible type of malware. Ransomware attacks are on the rise but few people understand the hidden costs beyond that of the initial extortion payment. This can include response and restoration expenses, legal fees and monitoring costs.

The sophistication of these ransomware groups even extends to the targeting of victims and how a ransom figure is decided as well as the negotiation techniques they use to exact maximum financial gain.

As per the report from CPR has monitored a 24% increase in ransomware attacks Year-over-Year to organizations globally. The weekly average of impacted organizations stands at one in 53 versus one in 66 in the same period of 2021.

Over the years, cybercriminals have perfected their processes in defining extortion demands and developed sophisticated techniques for negotiation with victims, with the aim of exacting the maximum level of ransom payment that the victim organization can afford.

Sophos research finds an increase of 94% between 2021 and 2022. More than two-thirds healthcare organisations in the US said they had experienced a ransomware attack in 2021, up from 34% in 2020. In the US, ransomware attacks on healthcare have become particularly common. 41% of such attacks globally have been carried out against US based firms in 2021.

The increase has just not been only in numbers but there is also growing sophistication of these attacks. The current situation is terrible. Ransomware has led to health care disruptions.

As per #cybersecurity company Trellix, over half of adversarial advanced persistent threat actor activity orig

By VARINDIA | 87 views