Browsing: Sophos

• Payment for ransomware attacks is not only impacting large businesses even smaller ones have been hit with 7-figure demand.
• The rate of ransomware attacks falls slightly, but recovery costs hit $2.73 million.
• Despite the soaring ransoms, this year’s survey indicates a slight reduction in the rate of ransomware attacks

The amount organisations are paying to get back their data from cyber criminals has increased by 500 per cent in the past year, a new report by Cybersecurity solutions provider Sophos has revealed.

Sophos, in its annual “State of Ransomware 2024” survey, says this has seen organizations that paid the ransom report an average payment of $2 million, up from $400,000 in 2023, with ransoms being just one part of the cost.

Excluding ransoms, the survey found the average cost of recovery reached $2.73 million, an increase of almost $1 million since the $1.82 million that Sophos reported in 2023. …

• The 2024 Sophos Threat Report shows data theft is the focus of most malware targeting small and medium businesses.
• Email attacks have moved away from simple social engineering toward more active engagement.
• According to the World Bank, over 90 per cent of the world’s businesses are small- and medium-sized organisations.

Cybercriminals are increasingly targeting data in a new trend in the online security space the 2024 Sophos Threat Report has shown.  The report by cybersecurity services firm Sophos sheds light on the dangers faced by small- and medium-sized businesses (SMBs) in the digital landscape.

The 2024 Sophos Threat Report titled “Cybercrime on Main Street” underscores the significant threats looming over SMBs, focusing on the year 2023. According to the report, 50 per cent of malware detected targeting SMBs comprised keyloggers, spyware, and stealers – malicious software designed to steal data and credentials.

Cybercriminals employ these tactics to …