Acronis researchers have concluded that ransomware continues to be the number one threat to large and medium-sized businesses, including government organizations.
This Help Net Security video highlights why organizations and businesses need a more holistic approach to cybersecurity.
Trend Micro predicted that ransomware groups will increasingly target Linux servers and embedded systems over the coming years. It recorded a double-digit year-on-year (YoY) increase in attacks on these systems in 1H 2022.
Jon Clay, VP of threat intelligence for Trend Micro, said: “New and emerging threat groups continue to evolve their business model, focusing their attacks with even greater precision. That’s why it’s essential that organizations get better at mapping, understanding, and protecting their expanding digital attack surface. A single, unified cybersecurity platform is the best place to start.”
According to the data:
Detection of attacks from ransomware-as-a-service surged in the first half of 2022. Major players like LockBit and Conti were detected with a 500% YoY increase and nearly doubled the number of detections in six months, respectively. The ransomware-as-a-service model has generated significant profits for ransomware developers and their affiliates.
The most notable one in the first half of 2022 is Black Basta. The group hit 50 organizations in just two months. Many persist with the “big game-hunting” of large enterprises, although SMBs are an increasingly popular target.
One of the primary attack vectors for ransomware is vulnerability exploitation. Trend Micro’s Zero Day Initiative published advisories on 944 vulnerabilities in the period, a 23% YoY increase. The number of critical bug advisories published soared by 400% YoY.
APT groups continue to evolve their methods by employing expansive infrastructure and combining multiple malware tools. The ten-fold increase in the number of detections is another proof point that threat actors are increasingly integrating Emotet as part of their elaborate cybercrime operations.
The concern is that threat actors are able to weaponize these flaws faster than vendors can release patch updates and/or customers can patch…
Funds transfer fraud may not make headlines like ransomware, but it can be just as devastating for small businesses if they are not prepared.
When we think about cyber-related risk, the term “ransomware” isn’t far behind. Ransomware is indeed an extremely detrimental risk for companies, sometimes even going so far as to bankrupt and shutter doors; but, it’s not the only cyber risk businesses should be watching.
Business email compromise (BEC) has proven to be an expanding avenue for funds transfer fraud, or FTF, which is a low-tech attack that disproportionately targets small businesses.
As Catherine Lyle, head of claims at Coalition, explained, threat actors (TAs) often perpetuate FTF using social engineering techniques like phishing. They intend to gain access to a business’ email system to cause a business email compromise. Once a TA has access to a corporate mailbox, the TA often manipulates a user’s contacts and inbox, looking for payment instructions.
This kind of attack usually happens without triggering any security alerts.
“The TA, using rule changes or other hidden techniques, then launches a game of ‘monkey in the middle,’ pretending to be the email sender and hiding real emails requesting payment or changes in wiring instructions from the waiting victim” Lyle said.
Because the email appears to come from a trusted source, the victim doesn’t question its authenticity and complies with the request. Even if the victim responds to ask if the payment request is legitimate, the TA will reply as their assumed host.
FTF is often the primary means of attack, and, as a result, it’s a very common tactic for targeting small businesses.
With fewer options to pivot inside a network and less infrastructure and data to hold hostage in a ransomware attack, smaller organizations become easier targets for TAs. In fact, funds transfer fraud is becoming more common, skyrocketing in the first half of 2021.
According to Coalition’s 2022 Cyber Claims Report, the initial FTF loss, defined as the loss before Coalition recovered funds, surged to an
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