2017 has met a 62% Rise in Ransomware Attacks

As per a latest report from anti-malware company, Malwarebytes, ransomware attacks in 2017 up to the end of November, are higher by 62% year on year.

Opportunistic cybercriminals and Criminal gangs – labeled the New Mafia by Malwarebytes – have adopted ransomware as a swift and easy method to sabotage businesses and make money. There has been a 1988.6% rise in ransomware attacks since September 2015, and there’s no indication that attacks will decelerate, particularly because of the easiness at which attacks can be carried out utilizing ransomware-as-a-service.

Malwarebytes notices that the correct number of attacks is likely to be much higher. Several businesses try to hide ransomware attacks because of the reputational damage which can be caused. Attacks aren’t informed and ransom demands are silently paid to swiftly regain access to files.

According to the report, it’s not just ransomware attacks that have raised. The average quantity of monthly cyberattacks on companies has increased by 23% year over year. That’s in addition to a 96% rise in cyberattacks on companies the preceding year.

In the U.S., just 21% of reviewed companies said they have suffered no cyberattacks in the last 12 months. Malwarebytes notices that a number of those companies might be unconscious that attacks have occurred and that there might be substantial knowledge gaps inside companies.

Malwarebytes points out in the report, that there are substantial differences between different surveys, quoting on PwC report which showed 74% of business shareholders thought they had not faced a cyberattack in the last year, whereas the Malwarebytes survey, which was carried out on CISOs, CIOs, and IT managers, indicates the quantity of firms that have avoided a cyberattack in the last 12 months is much lower. Cyberattacks are happening, however, they aren’t being revealed to the C-suite resulting in an underestimation of the danger intensity.

Some companies have been considerably targeted. 41% of companies faced between 1 and 5 attacks, 10% had between 6 and 10 attacks, 5% faced between 11 and 20 attacks and 22% have had 20 or more than 20 cyberattacks in the last year.

Although the danger of cyberattacks is currently at an all-time high, several companies are underrating the danger and are not implementing adequate defenses to avoid attacks. Consciousness of cybercrime must improve, companies should correctly evaluate the possibility of an attack taking place, and the C-suite must be more engaged to make sure adequate funds are allotted to cybersecurity to alleviate the danger. Malwarebytes proposes cybercrime should be raised from a tech problem to a business-critical matter, bearing in mind the damage that these cyberattacks may cause.

By enhancing collective consciousness of the dangers, sharing knowledge instead of trying to hide attacks, and being active and applying strong defenses it’s possible for companies to fight back as well as make it much tougher for cybercriminals.