"Ransomware is capable of crippling organisations and the cyber criminals spearheading these attacks are creatively evolving on a continuous basis to keep enterprises guessing," said Raimund Genes, chief technology officer for Trend Micro.
"It has dominated the threat landscape so far in 2016, causing immense losses to businesses across multiple industries," Genes said.
He advised enterprises to adopt multi-layered security solutions to combat these threats that could attempt to penetrate corporate networks at any time.
In total, 79 new ransomware families were identified in the first six months of the year, which surpasses the total number of new families found in 2015. Both new and old variants caused a total of $209 million in monetary losses to enterprises. Ransomware attacks found in the first half of 2016, such as BEC scams, originated from e-mails 58 per cent of the time.
BEC scams have spread across the world as the FBI listed more than 22,000 victims in 2016 till date, with more than $3 billion in losses. Trend Micro has found that the US is the most targeted country for these attacks.
Research shows both growth and evolution in vulnerabilities and exploit kits (EKs). Angler was found to steadily decrease in use, while other EKs such as Neutrino filled the void. New vulnerabilities and ransomware were added to keep EKs up to date and effective.
Unpatched software continues to provide additional opportunities for attackers to infect networks via EKs.
During Covid-19, organisations were faced with a massive drive towards digitisation.
Business18 hours ago
Digital finance plays a big role in reducing poverty and combatting unemployment
Business21 hours ago
The Stakeholder Conference 2021, scheduled to be held from October 26-28, at the Lapita, Dubai Parks and Resorts.
Business1 day ago