Verizon: Ransomware Still a Top Cybersecurity Threat

NEW YORK—Ransomware attacks are a key cybersecurity threat for global organizations, warns Verizon’s 2018 Data Breach Investigations Report (DBIR).

Ransomware is the most common type of malware, found in 39% of malware-related data breaches—double that of last year’s DBIR—and accounts for more than 700 incidents. What’s more, Verizon’s analysis show that attacks are now moving into business critical systems, which encrypt file servers or databases, inflicting more damage and commanding bigger ransom requests.

DBIR analysis also flags a shift in how social attacks, such as financial pretexting and phishing, are used. Attacks such as these, which continue to infiltrate organizations via employees, are now increasingly a departmental issue. Analysis shows that human resource departments across multiple verticals are now being targeted in a bid to extract employee wage and tax data, so criminals can commit tax fraud and divert tax rebates.

“Businesses find it difficult to keep abreast of the threat landscape, and continue to put themselves at risk by not adopting dynamic and proactive security strategies,” said George Fischer, president of Verizon Enterprise Solutions. “Verizon gives businesses data-driven, real-life views on the cyber-threat landscape, not only through the DBIR series but also via our comprehensive range of intelligent security solutions and services. This 11th edition of the DBIR gives in-depth information and analysis on what’s really going on in cybercrime, helping organizations to make intelligent decisions on how best to protect themselves.”

The 11th edition of the DBIR continues to deliver comprehensive data-driven analysis of the cyber threat landscape. Major findings of the 2018 report include the following:

Ransomware is the most prevalent variety of malicious software: It was found in 39% of malware-related cases examined this year, moving up from fourth place in the 2017 DBIR (and 22nd in 2014). Most importantly, based on Verizon’s dataset it has started to impact business critical systems rather than just desktops. This is leading to bigger ransom demands, making the life of a cybercriminal more profitable with less work.

The human factor continues to be a key weakness: Employees are still falling victim to social attacks. Financial pretexting and phishing represent 98% of social incidents and 93% of all breaches investigated—with email continuing to be the main entry point (96% of cases). Companies are nearly three times more likely to get breached by social attacks than via actual vulnerabilities, emphasizing the need for ongoing employee cybersecurity education.

Financial pretexting targets HR: Pretexting incidents have increased over five times since the 2017 DBIR, with 170 incidents analyzed this year (compared to just 61 incidents in the 2017 DBIR). Eighty-eight of these incidents specifically targeted HR staff to obtain personal data for the filing of file fraudulent tax returns.

Phishing attacks cannot be ignored: While, on average, 78% of people did not fail a phishing test last year, 4% of people do for any given phishing campaign. A cybercriminal only needs one victim to get access into an organization.

DDoS attacks are everywhere: DDoS attacks can impact anyone and are often used as camouflage, often being started, stopped and restarted to hide other breaches in progress. They are powerful, but also manageable if the correct DDoS mitigation strategy is in place.

Most attackers are outsiders: One breach can have multiple attackers. Some 72% of attacks were perpetrated by outsiders, 27% involved internal actors, 2% involved partners and 2% feature multiple partners. Organized crime groups still account for 50% of the attacks analyzed.

“Ransomware remains a significant threat for companies of all sizes,” said Bryan Sartin, executive director security professional services, Verizon. “It is now the most prevalent form of malware, and its use has increased significantly over recent years. What is interesting to us is that businesses are still not investing in appropriate security strategies to combat ransomware, meaning they end up with no option but to pay the ransom—the cybercriminal is the only winner here. As an industry, we have to help our customers take a more proactive approach to their security. Helping them to understand the threats they face is the first step to putting in place solutions to protect themselves.”

Sartin continued, “Companies also need to continue to invest in employee education about cybercrime and the detrimental effect a breach can have on brand, reputation and the bottom line. Employees should be a business’s first line of defense, rather than the weakest link in the security chain. Ongoing training and education programs are essential. It only takes one person to click on a phishing email to expose an entire organization.”

Leave A Reply