Cyber Attacks In 2020 Have Risen Dramatically, Here’s Why…

It’s no secret that 2020 has paved the way to become one of the worst years in recent history, but it’s also one of the worst years for cyber attacks and there’s a distinct reason. So, why has there been a seven-fold increase in ransomware attacks compared to 2019? The payout. 
The greater the risk, the greater the reward, and that idea is translating across all forms of cyber-attack, especially ransomware. 
In recent years ransomware attacks have become increasingly dangerous, “with cyber criminals aiming to encrypt as much of a corporate network as possible in order to extort a bitcoin ransom in return for restoring it. A single attack can result in cyber criminals making hundreds of thousands or even millions of dollars.” 
Bitdefender’s Mid-Year Threat Landscape Report 2020 claims that there has been a 715% year-on-year increase in detected, and blocked, ransomware attacks. 
Hackers are on a constant mission to evolve their code, increase their payday, and cause more damage than ever before. Ransomware that was popular in 2019 has disappeared and given way to newer, highly disruptive and more devastating threats. Bitdefender’s global cybersecurity researcher Liviu Arsene, explains that the popularity of ransomware “families” change, and last year’s most popular has actually decreased. 
New ransomware families like Sodinokibi (aka REvil), are highly targeted operations, and have made massive amounts of money from targeting high-profile organizations in extortion scams. 
The threat these hackers hold in their hands now, is data leakage, and that alone is enough to ensure their campaign rakes in the profit they’re looking for. Threats that used to be hollow as long as a company would pay the ransom are now followed through, and could cost a fortune in data privacy law suits if information is publicly leaked. 
Today’s cyber thieves aren’t messing around. 
Ransomware-as-a-service is a continued problem for organizations around the world, and although they may not be “as advanced as most high-profile versions, their availability ‘as-a-service’ allows even low-level attackers to deploy attacks in an effort to illicitly make money, often from smaller and medium-sized businesses that feel they have no other option but to pay.” 
Regularly patching security updates to avoid vulnerability exploits, multi-factor authentication, and regularly backing up your organizations systems to a protected database on a consistent basis will help ensure if the worst is to happen, that ransomware doesn’t infiltrate the network. Protection is key. 

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