While 2022 began with a comforting decline in ransomware incidents, the tables have turned. Cyberattacks have surged in recent months, with the U.S. experiencing a dramatic 75% spike in ransomware activities from one half of the year to the next. Here’s a detailed look at this unsettling rise.
Global Ransomware Analysis: The Top Target Countries
Ransomware in Numbers: A Year in Review
- July 2022 – June 2023 Stats:
- United States, Germany, France, and the U.K.: Approximately 1,900 incidents
- Top 10 Most Targeted Countries: Over 2,400 events
The U.S. Under Siege: 43% of all attacks were US targets
Ransomware Gangs: The Prolific Attackers
These aren’t isolated incidents; ransomware gangs have expanded their activities, increasing both the frequency and the complexity of their attacks.
A Spike in Group Activities
- July-December 2022: Only two groups executed 15 or more attacks per month
- January-June 2023: At least seven groups launched 15 or more attacks per month
The Top Five: A Year of More Than 100 Attacks
- Most Notable: LockBit with over 286 attacks, mainly targeting insurers in 2022’s first quarter
- Ransomware-as-a-Service: LockBit is the leading form in the U.S., averaging 24 attacks monthly
The Critical Need for Cyber Liability Coverage
In this ever-changing cyber threat landscape, the importance of personal or business cyber liability coverage cannot be overstated.
For Individuals
- Protection from Financial Loss: Coverage can offset the costs related to restoring stolen identities or recovering compromised data.
- Access to Professional Assistance: Many policies provide access to experts who can guide victims through the complex process of recovery.
For Businesses
- Safeguarding Reputation: Quick response to a breach can mitigate damage to a company’s reputation.
- Covering Legal and Regulatory Costs: Policies can help cover the expenses related to compliance with legal requirements after a breach.
Conclusion: A Time for Vigilance
The data compiled by Malwarebytes, Inc. paints a clear picture of a ransomware landscape that has not only grown but evolved. The strategies are more refined, the attacks more numerous, and the targets more specific. With a growing number of groups and tactics to consider, along with the essential need for cyber liability coverage, it’s a call to the world to be on guard and prepared for what’s to come. The time for vigilance is now.
