Tag: m-trends
Ransomware drives corporate cyber-crime
Cybercriminals are getting greedier. According to Google subsidiary Mandiant’s M-Trends 2024 Special Report, the proportion of financially motivated intrusions grew from more than a quarter of all investigations (26 percent) in 2022 to over a third (36 percent) in 2023. Ransomware-related intrusions represented almost two-thirds of financially motivated intrusions and 23 percent of all 2023 intrusions; the remaining financially motivated intrusions included business email compromise (BEC) fraud and cryptocurrency theft. In 70 percent of cases, organizations learned of ransomware-related intrusions from external sources. In three-quarters of those cases, organizations were notified of a ransomware incident by an attacker ransom message. The remaining quarter came from external partners, such as law enforcement or cybersecurity companies. “This is consistent with the extortion business model in which attackers intentionally and abruptly notify organizations of a ransomware intrusion and demand payment,” says Mandiant.