Ransomware cyber attacks will proliferate in 2017

Kaspersky Lab has issued a latest cyber security report which suggests that the Ransomware attacks on businesses grew threefold in the current year and may double up  in 2017. The Russian Anti-Virus firm anticipated that ransomware spreading criminals will become more innovative next year.

As per the new data suggested by Kaspersky, cyber attacks were launched by organizations around the world once in every two minutes at the beginning of this year. But now, the attack percentage has increased to one in every 10 seconds.

The survey report of the security firm suggests that over 20% of organizations suffered an IT incident even after paying the cyber criminals the intended ransom.

So far, cyber security pros have discovered 62 new ransomware families and predicted that early next year, there will be a surge in the success of ransomware-as-a-service model.

Fedor Sinitsym, a Senior malware analyst at Kaspersky lab suggests that the coming months will witness an innovation in ransomware spread. Fedor feels that hackers will offer a free decryption scheme to victims whose files have been locked. They will ask them to spread the malware to other victims and as soon as two victims pay the ransom to free up their respective database, the main malware spreader who is already a victim of ransomware will get a free key to decrypt his/her company’s database. This is named as Popcorn Time ransomware.

In another report compiled by Trend Micro, it is said that ransomware families discovered by security analysts have soared by 400% in between January to September this year. However, they suggest that the growth will drop by 25% in next year.

Kaspersky suggests that 25% of companies are taking cyber espionage still lightly. They do not know that fact that more than 12% of companies do not recover in business as soon as hackers strike their database.

Have suggestions on how to contain ransomware in coming years?

Just feel free to speak up your mind through the comments section below.

Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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