Ransomware attacks have doubled year-on-year in April-July, says cybersecurity firm Seqrite

The Seqrite Quarterly Threat Report said there was a visible shift in the behaviour of threat actors, with multiple ransomware families now capable of stealing sensitive data in addition to holding the victim’s network for a ransom. Organisations in sectors such as BFSI, manufacturing, IT/ITeS and government are likely to be the primary targets due to the sheer amount of sensitive data they store
Priyanka Sangani
  • Updated On Aug 27, 2020 at 02:27 PM IST
Read by: 100 Industry Professionals
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PUNE: Cybersecurity firm Seqrite said ransomware attacks doubled year-on-year in the first quarter of this financial year to 400,000 largely due to the absence of robust cybersecurity measures amid a surge in remote working in the wake of Covid-19

The Seqrite Quarterly Threat Report said there was a visible shift in the behaviour of threat actors, with multiple ransomware families now capable of stealing sensitive data in addition to holding the victim’s network for a ransom. Organisations in sectors such as BFSI (banking, financial services and insurance), manufacturing, IT/ITeS and government are likely to be the primary targets due to the sheer amount of sensitive data they store, it said.

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“Ransomware attacks have always been a concern for enterprises. But what makes them more dangerous is their innovative and evolving nature,” said Sanjay Katkar, chief technology officer, Quick Heal Technologies. “While previously threat actors used to block sensitive data and ask for a ransom in return, now they have evolved and become much smarter than ever. Apart from demanding ransom from the victim, these evolved threat actors steal the encrypted data and sell it in the open market to make dual income sources.”

Maze has been the top ransomware threat to enterprises in the past one year, according to the report. It is popular for its new approach of attack as it publishes sensitive data of infected customers publicly using different techniques to barge in. Casualties of this ransomware include large companies and public sector units, which recently came under its attack during the ongoing pandemic, logging employees out of their systems through forced encryption of data, said the report.
  • Published On Aug 27, 2020 at 02:27 PM IST
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