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Ransomware attackers are winning and growing even more confident with time, think tank warns

Written by Ahsan Zafeer ·  1 min read >

A report by the defense think tank, the Royal United Services Institute (RUSI), and cybersecurity company BAE Systems warn that the ‘perfect storm of conditions have come together and allowed ransomware attacks to run rampant against organizations around the world.

The report says that Ransomware is becoming more successful than ever before because of a combination of factors that allow cybercriminals to gain access to corporate networks easily – and they’re finding success because a significant number of organizations that fall victim to attacks are willing to pay the ransom.

Those elements range from how easy it is for cybercriminals to acquire and distribute ransomware, and the frequency of ransomware payouts, to the way the COVID-19 pandemic has made it simpler for malicious hackers to gain entry to networks.

But the ransomware victims’ willingness to pay ransoms ultimately helps encourage cybercriminals to pursue this line of attack – and normalizes the act of giving in to the ransom demands.

“The more organizations that pay a ransom, the more acceptable the notion of paying a ransom to solve the problem becomes,” the paper warns, adding that the ability to claim ransom payments back via cyber insurance may further encourage payments to criminals.

Ransomware groups are ever-evolving, and this has also helped contribute to the success of the attacks. The range of ways that cybercriminals can gain access to networks also adds to the success of ransomware. Attack methods such as phishing, brute-force attacks looking to crack weak passwords on remote desktop protocol services, or abusing technical vulnerabilities are all playing a part in allowing ransomware attackers to gain access to the systems they require.

Read More: $30 Million: The highest ransomware demand ever recorded as the malicious attacks increase.

Source: ZDNet

Written by Ahsan Zafeer
A digital marketing professional specializing in content-based functional areas - Ahsan Zafeer is driven by a never-ending passion for developing, nurturing, and strategizing key content aspects. He writes extensively on tech, digital marketing, SEO, cybersecurity, and emerging technologies. He also serves as a digital marketing strategist and freelance consultant for globally oriented organizations. He tweets @AhsanZafeer Profile