A leading Cyber security Firms,Sophos, recently released it’s “Cybercrime on main street” report, that ransomware as the significant Cyber threat to Small and Medium Businesses (SMBs) globally.
The report was released on Monday, and it uncovers a disturbing evolution in ransomware tactics including the use of remote encryption and targeted attacks on managed service providers.
Ransomware, a malicious software that blocks access to a computer system or files until a ransom is paid, has a significant tactical shift on SMBs today. It not only paralyzes businesses but also demands financial layouts and crippling them financially.
The report points out that Small and Medium Businesses worldwide are the primary targets and victims of these ransomware campaigns. A startling 62% increase in ransomware attacks utilizing remote encryption was noted between 2022 and 2023. It involves attackers encrypting files on a network by leveraging an unmanaged device,and showing a strategic evolution in how these criminals operate.
Sophos identified “lockbit, Akira and Blackcat” as the top ransomware gangs causing Havoc among SMBs.
The initial Access Brokers (IABs) are identified as a key concern as highlighted in the report for using “dark web to sell their services.”
The Director of Sophos X-ops research, Christopher Budd, gave more light to the value of data in the current Cybercrime.
“ The value of Data, as currency, has increased among the cybercriminals” he said, particularly the SMBs.
