H1 2020: 41% of security incidents were ransomware attacks

Ransomware attacks accounted for 41% of reports cyber security submitted in the first half of 2020, according to a report published by Coalition, one of the largest cybersecurity service providers in North America.

The large number of reports of ransomware attacks confirms previous reports from many Companies cybersecurity, according to which ransomware is one of the most widespread and destructive threats of today. In addition, the Coalition noted that ransomware attacks target all sectors and all countries, demanding large ransoms from their victims. The company added that only in the first half of 2020, it occurred 260% increase in the frequency of ransomware attacks, With the ransom demand to increase by 47% respectively.

Among the most aggressive gangs, the Coalition is one of its groups Maze and DoppelPaymer ransomware, which have recently started stealing data from infringers networks and threaten their victims with leaks to leak sites as part of double-blackmail schemes. Based on customer reports of ransomware attack in the first half of 2020, the Coalition stated that gang Maze ransomware was the most "greedy", with the team asking for six times the ransom, six times higher than the overall average.

However, in addition to ransomware attacks, the Coalition has also seen an increase in the number of reports of money laundering attacks and BEC scams, with the former having increased by 35% since 2019 and the latter by 67%. These are two similar types of incidents where criminal gangs defraud a company by inciting it to make a payment to an account controlled by the attackers. The difference is that money laundering fraud attacks can occur by phone or mail, while BEC scams are carried out exclusively through e-mail.

Reported losses from ransomware incidents ranged from $ 1.000 to $ 2.000.000 per attack. However, according to the Coalition, the companies that use it Microsoft Office 365 have 3,2 times more BEC fraud cases than those using other types of email providers.

The company also pointed out that in many cases of money transfer fraud attacks, as well as in cases of BEC fraud, the lost money could be recovered, with a quick intervention. Specifically, the company noted that since the beginning of 2018, money was recovered in 55% of all cases and while the lost money has been recovered by 84% for these customers.