Doug Bedell — June 13, 2022, 11:07 am

Ransomware Attacks Growing on the Internet

Writing on the State of Security, Mary Manzi reports on Sophos Labs’ “annual global study, State of Ransomware 2022. which covers real-world ransomware experiences in 2021, their financial and operational impact on organizations, as well as the role of cyber insurance in cyber defense.

“The report, which surveyed 5,600 IT professionals in mid-sized organizations across 31 countries, shows that ransomware attacks are increasing and becoming more sophisticated. In 2021, 66% of organizations were hit with ransomware, an increase of 29% compared to 2020.

“Cybercriminals are finding more complex ways to launch ransomware attacks. An average of 57% of the companies surveyed reported an increase in the volume of attacks, and 59% said the complexity of attacks had increased. With the everything-as-a-service model, even those criminals without the skills and financing required to deploy a unique ransomware attack can use ready-made packages.”

And, “Ransom payments are becoming inflated. The number of organizations that paid a ransom of $1 million or more rose to 11%, up from 4% in 2020. Whereas the percentage of organizations paying less than $10,000 dropped from 34% in 2020 to 21% in 2021.”

Thus, the Internet continues to become a dicier communication realm.

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