Why are there so many more ransomware attacks these days?
3 years ago4 minutes read Uncategorized

Why are there so many more ransomware attacks these days?

Does it seem to you like there are so many more ransomware attacks happening and that everyone from companies to hospitals is being hacked?

That’s because there are, according to the Australian Government, 1 in 3 Australian adults were impacted by cybercrime in 2019.

The stats are startling.

$29 bn annual cost of cyberattacks on the Australian economy

61% of executives consider ransomware attacks likely in the next 12 months

62% of small to medium businesses have experienced a cyber security incident 

What is ransomware?

Ransomware is simply software that locks you out of your computer or data until you pay the cybercriminals. Ransomware often infects a computer when someone clicks on a dodgy (phishing) link in an autogenerated email.
You can also get infected by ransomware by visiting malicious or compromised websites.

Why is there so much more happening these days?

There are two main reasons for the recent increase:

1 – It’s a lucrative market.  Whilst the Australian Cyber Security Centre recommends not paying the ransom many do and this is widely reported.  Publicising the breach is a tactic used by the cybercriminals to pressure the hacked organisation into paying.

2 – Cybercriminals have adopted new and effective business models.  No longer does a criminal gang have to employ their own hacker, now they can simply use Ransomware as a Services or RaaS in the same way that you might use accounting software as a service like Xero or Marketing Software as a Service like Mailchimp.  This business innovation has made ransomware much more widespread and effective.

What can you do to protect yourself?

Use an email blocker to prevent malicious emails getting through.

Train yourself and your staff and colleagues on how to spot a phishing link and what to do if you suspect you’ve got one (hint don’t click on it)

Send your organisation dummy phishing emails to see if they can spot them and train people who click on them.

If you need help to help your organisation take these steps just get in touch