With the migration to remote work over the last year, cyberattacks have increased exponentially. We saw more attacks of every kind, but the headline for 2020 was ransom attacks, which were up 150% over the previous year. The amount paid by victims of these attacks increased more than 300% in 2020.
Already 2021 has seen a dramatic increase in this activity, with high-profile ransom attacks against critical infrastructure, private companies, and municipalities grabbing headlines on a daily basis. The amount of ransom demanded also has significantly increased this year, with some demands reaching tens of millions of dollars. And the attacks have become more sophisticated, with threat actors seizing sensitive company data and holding it hostage for payment.
Who’s behind the recent surge in attacks? And how should companies respond to this increased threat? In this article, I’ll outline how ransomware attacks have evolved and what actions companies can take now to protect themselves.
How Ransomware Attacks Have Changed
A few years ago, the majority of ransom attacks involved only the deployment of ransomware. Hackers would gain access through a phishing email that would deploy malware when an unwitting employee clicked on a link. The malware would then encrypt company servers, and the extortionist would offer decryption keys in exchange for a ransom — typically in the five or sometimes six figures.
Source: HBR
