Ransomware attacks increased 64% YoY between August 2020 and July 202114 Aug 2021 23:30
THE PROBLEM:
"Ransomware attacks increased 64% YoY between August 2020 and July 2021
Our Bureau Mumbai | Updated on August 14, 2021
Majority of attacks were carried out by a “handful of high-profile ransomware gangs”
Ransomware attacks grew 64 per cent year-on-year between August 2020 and July 2021, according to a report from the cybersecurity firm Barracuda.
Barracuda’s researchers, analysed 121 ransomware incidents between August 2020 and July 2021 and identified a 64 per cent YoY increase in attacks.
A majority of these attacks were carried out by a “handful of high-profile ransomware gangs,” the report said. Ransomware gang, Revil, accounted for 19 per cent of the attacks while a new ransomware strain, DarkSide, caused 8 per cent of the attacks.
The research further found that attackers have been heavily targeting municipalities, health care, and education. Attacks on other businesses have also witnessed a surge.
Attacks on corporations, such as infrastructure, travel, financial services, and other businesses, made up 57 per cent of all ransomware attacks between August 2020 and July 2021, up from 18 per cent as noted in Barracuda Network’s 2020 study. Meanwhile, infrastructure-related businesses account for 10 per cent of all the attacks.
... “On multiple occasions in the past year, attackers exploited an application vulnerability to gain control of the application infrastructure and eventually target the most valuable data to encrypt,” the report added. ...
While analysing the ransom payment trends in the past years, Barracuda researchers witnessed a significant spike in the amount. The average ransom being demanded per incident is over $10 million ...
Companies should also secure their SaaS (software as a service) applications and infrastructure access points by implementing Zero Trust Access. ..."
https://www.thehindubusinessline.com/info-tech/ransomware-attacks-increased-64-yoy-between-august-2020-and-july-2021/article35908619.ece
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