What is ransomware?
According to TrendMicro, “Ransomware is a type of malware that prevents or limits users from accessing their system. This type of malware forces users to pay the ransom through certain online payment methods in order to grant access to their systems, or to get their data back.”
- Ransomware is readily-available and changes faster than detection technologies can respond
- In most cases, paying ransom is the only way to free hostage data and systems
- Recent successful ransom situations will only encourage more attempts
- Cryptocurrencies such as Bitcoin can be used to force untraceable ransom payments
- Humans are widely susceptible to phishing, the most commonly used ransomware attack vector
How does ransomware affect businesses?
Cofense co-founder Aaron Higbee explains ransomware and its business impact on CNBC:
Ransomware Attacks are up 400%
Ransomware attacks are up 400% in 2016, officially becoming the most utilized form of malware in phishing emails. Our 2016 Enterprise Phishing Susceptibility and Resiliency Report examines data samples from more than 1,000 Cofense customers who sent more than 40 million simulation emails. Throughout the report, we identify and highlight the phishing themes and emotional motivators that users find most difficult to recognize and report, while also highlighting how increased reporting impacts susceptibility.
Budgets Booming to Combat Ransomware
Businesses are expected to spend nearly $82 billion on security products and services this year. Despite this, 62% of organizations say they don’t have enough budget to adequately protect themselves from cyber threats. Aligning your organization’s resources and strategies with emerging security threats, such as ransomware and phishing, is critical for preventing data breaches. Our infographic, “Human Vetted Intelligence” gives a visual overview of these statistics and more.
Ransomware Continues to Flourish
During the third quarter of 2016, the Cofense Intelligence team generated 689 active threat reports that highlighted indicators of compromise, tactics, and techniques that serve as the hallmarks of phishing attacks, revealing that more than 97% of phishing emails delivered in Q3 contained ransomware. But what about the rest? Our report demonstrates why Locky ransomware continued to dominate this quarter and how “quiet” malware became the secret sauce for threat actors.
It’s not easy to keep up with today’s threats. Now, with Cofense Threat Alerts, you’ll have a simple way to stay on top of emerging phishing and malware threats and attacks, all delivered straight to your inbox. FREE.