Ransomware: The Rising Face of Cybercrime

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Government's Ransomware Dilemma

Of the six industries examined, government had the second-highest rate of ransomware. In fact, ransomware in this sector more than tripled over the last 12 months. Sixty-seven different government organizations (e.g., law enforcement groups, federal agencies, etc.) had ransomware on their corporate networks over the past 12 months.

In 1989, long before the widespread adoption of the internet, cyber criminals were using floppy disks to spread ransomware across computers. Today's cyber criminals have evolved their approach using advanced strains of ransomware that encrypt data on an organization's network or lock users out of their devices. These hackers then demand a ransom, typically in the form of Bitcoin, before restoring the data back to normal.

Ransomware is a legitimate threat, with estimates from the U.S. Department of Justice showing that over 4,000 of these attacks have occurred every day since the beginning of the year.

In a recent industry report by BitSight, researchers analyzed the growing trend of ransomware across nearly 20,000 companies to identify common forms of ransomware, and identify which industries are most susceptible to these types of attacks. This slideshow highlights the findings of this recent report.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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