Ransomware Raises The Bar Again
Ransomware just got even more real: it's now the number one attack vector in the financial services sector which traditionally has been considered a model industry for best security practices.
Some 55% of financial services firms recently surveyed by SANS report ransomware as the top attack threat, followed by phishing (50%), which previously held the top spot. More than 32% of financial firms say they've lost anywhere from $100,000 to a half-million dollars due to ransomware attacks.
Ransomware's infiltration of the security-forward financial services industry underscores the dramatic rise in ransomware over the past year and growing pressure on preparedness. The malware that infects machines and holds them for ransom payment by the victim is the fastest-growing form of malware today, with more than 4,000 ransomware attacks per day since January 1 of this year. That's an increase of 300% since 2015, and security experts at Trend Micro say ransomware cost enterprises some $209 million in the first half of 2016.
