In 2021, ransomware should top the list of concerns for every company. While it used to target specific industries, now it is everywhere, targeting big and small companies alike. BitDefender’s Mid-Year Threat Landscape Report (2020) revealed a 715% increase in ransomware attack frequency in 2020.
With ransomware variants continuing to evolve into more sophisticated threats, organizations will need a data protection strategy to outsmart them. “2021 will be our most challenging year yet in combating ransomware in the enterprise. The attacks don’t just attempt to execute a lockout or encrypt data anymore, but are increasingly aimed at extracting or stealing data from organizations. While some cybercriminals may sell the data on the dark web, others may threaten to leak the data for a higher payout on the ransom. We predict that this will become hackers’ ransomware end game — though the risk of detection rises along with the potential payday,” commented
Some experts expect regulatory groups to impose stricter and larger fines as a way to encourage companies to proactively fight ransomware. Therefore, businesses will invest more in cybersecurity to tackle ransomware attacks and avoid legal penalties. Trevor Bidle, Chief Information Security Officer at US Signal, says: “This is especially critical following the announcement by the U.S. Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) that paying ransom will not only encourage hackers to continue these attacks — but could now go against OFAC regulations.”
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