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Ransomware Strikes on the Rise

Tuesday, June 11, 2019  

 

Based on the results of at least one insurer’s report, ransomware attacks in the first quarter of 2019 are up more than 100 percent from 1Q18.

Beazley PLC’s recently released Breach Insights Report says cyber criminals are holding information systems hostage at increasingly larger organizations, slipping into their databases through phishing emails and new variants of banking Trojans. “Not only has the frequency of attacks increased,” according to the report, “but attackers are shifting focus, targeting larger organizations and demanding higher ransom payments.”

Ransomware strikes against Beazley clients were up 105 percent during the first quarter, the insurer reported. Swiped information and credentials are used to steal from financial accounts, defraud through compromised business email and commit identity theft.

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