News

Ransomware attackers are winning and growing even more confident with time, think tank warns

A report by the defense think tank, the Royal United Services Institute (RUSI), and cybersecurity company BAE Systems warn that the ‘perfect storm of conditions have come together and allowed ransomware attacks to run rampant against organizations around the world.

The report says that Ransomware is becoming more successful than ever before because of a combination of factors that allow cybercriminals to gain access to corporate networks easily – and they’re finding success because a significant number of organizations that fall victim to attacks are willing to pay the ransom.

Those elements range from how easy it is for cybercriminals to acquire and distribute ransomware, and the frequency of ransomware payouts, to the way the COVID-19 pandemic has made it simpler for malicious hackers to gain entry to networks.

But the ransomware victims’ willingness to pay ransoms ultimately helps encourage cybercriminals to pursue this line of attack – and normalizes the act of giving in to the ransom demands.

“The more organizations that pay a ransom, the more acceptable the notion of paying a ransom to solve the problem becomes,” the paper warns, adding that the ability to claim ransom payments back via cyber insurance may further encourage payments to criminals.

Ransomware groups are ever-evolving, and this has also helped contribute to the success of the attacks. The range of ways that cybercriminals can gain access to networks also adds to the success of ransomware. Attack methods such as phishing, brute-force attacks looking to crack weak passwords on remote desktop protocol services, or abusing technical vulnerabilities are all playing a part in allowing ransomware attackers to gain access to the systems they require.

Read More: $30 Million: The highest ransomware demand ever recorded as the malicious attacks increase.

Source: ZDNet

Sponsored
Ahsan Zafeer

A digital marketing professional specializing in content-based functional areas - Ahsan Zafeer is driven by a never-ending passion for developing, nurturing, and strategizing key content aspects. He writes extensively on tech, digital marketing, SEO, cybersecurity, and emerging technologies. He also serves as a digital marketing strategist and freelance consultant for globally oriented organizations. He tweets @AhsanZafeer

Share
Published by
Ahsan Zafeer

Recent Posts

Telecom Operators to Automatically Restore SIMs for Tax Filers

The Federal Board of Revenue (FBR) has introduced a comprehensive mechanism for blocking and unblocking…

48 mins ago

Trump’s Influence Fuels Bitcoin to Cross $100,000

Bitcoin broke the $100,000 mark for the first time on Thursday, driven by Trump's crypto-friendly…

1 hour ago

PSX Hits New Heights, Surges by 1,800 Points to Cross 97,000

On Thursday, the Pakistan Stock Exchange (PSX) 100 Index surged by 1,781.94 points, or 1.86%,…

2 hours ago

Pakistan’s IT Minister Defends Internet Restrictions: Here’s All We Know!

Shaza Fatima Khawaja, Minister of State for IT and Telecom, made it clear on Thursday…

3 hours ago

PayPal Resolves Global Outage Impacting Thousands

PayPal, the global payment processing company, announced on Friday that it had successfully resolved a…

4 hours ago

7,300 Teaching Interns Hired Across Punjab

LAHORE: Punjab government colleges have completed the recruitment of 7,354 teaching interns. The Higher Education…

4 hours ago