Ransomware payments primarily fund more ransomware
- March 1, 2023
- 0
The ransom paid to free companies’ computers after a ransomware attack is usually used to invest in further criminal cyber activities. This is to emerge from a report
The ransom paid to free companies’ computers after a ransomware attack is usually used to invest in further criminal cyber activities. This is to emerge from a report by Trend Micro.
You may have seen it coming, but cyber criminals who manage to get ransom money from their victim don’t use it to buy a new car. They usually use it like a traditional company does to fund their future activities.
According to a new report by Trend Micro, only about 16 percent of ransomware victims pay the ransom. And in most cases, that amount is then poured into new ransomware attacks, with one payment equating to roughly nine new attacks. The paying victims would thus help pay for a growing system of cybercrime.
double price
The report also deals with the typology of the victims. For example, risk is not the same for every region or sector. Victims in certain industries and countries pay faster or are willing to pay more, Trend Micro calculates, making them a desirable target. For example, African companies would pay the most ((34.8% pay after an attack), European companies the least (11.1%).
The group of 16% who pay are often hacked again and forced to pay even more ransom, the security guard writes. In general, he therefore recommends simply not paying and instead investing in infrastructure that is more resistant to outside interference.
You may have seen it coming, but cyber criminals who manage to get ransom money from their victim don’t use it to buy a new car. They usually use it like a traditional company does to fund their future activities. Only about 16 percent of ransomware victims pay the ransom, according to a new report by Trend Micro. And in most cases, that amount is then poured into new ransomware attacks, with one payment equating to roughly nine new attacks. The paying victims would thus help pay for a growing system of cybercrime. The report also deals with the typology of the victims. For example, risk is not the same for every region or sector. Victims in certain industries and countries pay faster or are willing to pay more, Trend Micro calculates, making them a desirable target. For example, African companies would pay the most ((34.8% pay after an attack), European companies the least (11.1%). The group of 16% who pay is often hacked again and forced to pay even more ransom pay, writes the security officer, so he generally recommends simply not paying and instead investing in infrastructure that’s more resilient to outside intrusion.
Author:
El Bellens
Source: Data News
As an experienced journalist and author, Mary has been reporting on the latest news and trends for over 5 years. With a passion for uncovering the stories behind the headlines, Mary has earned a reputation as a trusted voice in the world of journalism. Her writing style is insightful, engaging and thought-provoking, as she takes a deep dive into the most pressing issues of our time.
