Ransomware targets small organizations: isn't it time to close your sole proprietorship?

CarderPlanet

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Large companies have become harder to crack, and hackers have shifted their focus to more accessible victims.

In the first half of 2023, the number of victims of ransomware attacks on organizations increased by 47% compared to the second half of 2022, according to a recent report by Trend Micro.

"Threats continue to evolve, and target audiences are expanding, causing significant financial and reputational damage," said John Clay, vice president of threats at Trend Micro.

According to the study, many cybercriminals abandon attacks on large targets in favor of smaller organizations that are supposed to be less secure. The leading ransomware gangs at the moment are LockBit, Clop, and BlackCat. Organizations with up to 200 employees make up the majority of their victims of LockBit (57%) and BlackCat (45%).

The United States is still in first place in terms of the number of victims, with the highest number of incidents in the first half of 2023 (949 cases) - and this is almost half of all attacks. The next countries on the list were the United Kingdom (132 cases) and Canada (88 cases). Most of the affected countries are located in North America and Europe.

An investigation into attacks targeting US government agencies in 2022 found that the LockBit group is behind, on average, every sixth attack. This underscores the ongoing threat to U.S. government agencies.

Ransomware as a service (RaaS) is also gaining momentum. The number of victims increased by 47%, from 1,364 in the second half of 2022 to 2,001 in the first half of 2023. Meanwhile, the number of new groups providing RaaS services increased by 11.3% over the same period.

The LockBit ransomware family, which has been the industry leader since 2022, was responsible for 26.09% of all attacks, while BlackCat and Clop were responsible for 10.59% and 10.09% of attacks, respectively. The banking, retail, and transportation sectors were the most frequent targets in the first half of 2023.

The average recovery time for the retail, restaurant, and hotel industries increased strongly in 2022, averaging 2 weeks, compared to about 1 week in 2021. Such statistics indicate the complexity of ransomware attacks, which now causes much more damage than before.
 
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