Ransomware attacks were one of the most significant cyber threats in 2019, according to Trend Micro.
Trend Micro Inc., one of the largest companies worldwide, today released its annual report for 2019. The report outlines the most significant issues and changes observed in the threat landscape during 2019. These reports aim to inform businesses about threatsso they can take appropriate measures and protect themselves.
According to the report, ransomware continued to be a significant threat last year. Trend Micro saw a increase in ransomware attacks 10% , despite a 57% decline in new ransomware. The healthcare sector remained the most popular target for hackers . More than 700 organizations were attacked in 2019. In addition, at least 110 U.S. state and local governments fell victim to ransomware attacks. The company said it blocked more than 61 million ransomware attacks last year .
“ Digital transformation is one of the most important issues in recent decades and has had very positive results over time. However, security is not always taken into account and leaves the digital doors open to cybercriminals,” said Jon Clay, a key executive at Trend Micro. “Despite the ideals of digital transformation, the lack of basic security and the use of older systems with outdated operating systems and vulnerabilities are still a reality.” All of these elements are exploited by both ransomware gangs and other hackers for their own benefit.
Trend Micro also observed that in 2019, there were alliances between ransomware gangs to further their malicious activities. For example, attackers compromise a company’s systems and then give access to other hackers for a fee. The hackers behind the Sodinokibi attacked 22 local government units in Texas, demanding $2.5 million. They then gave access to other attackers. In this way, the so-called “access-as-a-service” trend became popular, in which criminal groups rent or sell access to networks . The price for this service ranges from $3,000 to $20,000.
According to Trend Micro, the existence of known vulnerabilities has been and continues to be one of the main reasons for successful ransomware and other attacks. In 2019, Trend Micro’s Zero Day Initiative (ZDI) revealed significantly more critical vulnerabilities than in 2018 (a 171% increase). Vulnerability severity reflects the likelihood of malicious hackers exploiting the vulnerabilities. The more critical a vulnerability is, the more likely it is to be exploited. Therefore, fixing such bugs should be a priority for companies.
Trend Micro advises users on how to protect themselves from the various threats. The company recommends a coordinated defense for gateways, networks, servers and endpoints. In addition, the following are recommended:
- Reduce the likelihood of ransomware attacks through network segmentation, regular back-ups , and continuous network monitoring.
- Regularly update all your systems and fix potential vulnerabilities.
- Enable virtual patching, especially for operating systems that are no longer supported by the vendor.
- Implement multi-factor authentication to prevent account breaches.
You can read Trend Micro's full report here.
