Verizon’s ransomware predictions come true

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Skull and key ransomware alertBack in 2013 US telecoms giant Verizon predicted that ransomware would become the malware of choice for hackers into the future. Its 2018 Data Breach Investigations Report confirms that this prophecy has come true – due to its low risk for attackers, effectiveness against big business and government bodies and the fact that stolen data doesn’t need to be converted into currency. Despite this, organisations are still failing to invest in effective defence systems.

Human fallibility is also an increasing factor in the rise of cybercrime, with phishing scams and pretexting – a form of social engineering in which an individual lies to obtain privileged data – in the vanguard of attack methods. HR and finance staff appear to be most vulnerable to social engineering scams.

As ever, education remains the best form of defence. While three quarters of internet users never fall for phishing exploits, nearly 5% are hooked every time.