‘Only 19% of cases involved ransom payments in the first half of 2023’
Arete, a leading global cyber risk
management company, released Turning Tides – Navigating the
Evolving World of Cybercrime, a report highlighting
trends and shifts in the cyber threat landscape observed by Arete in the first
half of 2023. The report leverages data collected during Arete
incident response engagements and explores the rise and fall of ransomware
variants, trends in ransom demands and payments, industries targeted by
ransomware attacks, and what may be coming next.
The report highlights several key
findings. In the initial six months of 2023, LockBit has surged to claim the
leading position, constituting 30.3% of all ransomware incidents monitored by
Arete. Notably, the professional services sector has emerged as the primary
target, experiencing an uptick of nearly 12% since the latter half of 2022.
Although there is a general upward trajectory in ransom demands by
cybercriminals, Arete's data reveals that only 19% of cases during the first
half of 2023 resulted in a ransom payment.
The report offers an in-depth analysis
of the top five ransomware variants observed, as well as data on initial access
vectors and post-exploitation toolsets. It also explores shifts in the threat
landscape, including the lower barrier of entry into cybercrime that is powered
by leaked resources, new business models, and AI tools. We also discuss the
socioeconomic impacts of the Russia-Ukraine War and the increase in global law
enforcement actions against cybercriminals.
“Cybercrime is constantly shifting in
response to new vulnerabilities, developing technology, and global
socioeconomic events,” said Arete’s Chief Data Officer, Chris Martenson.
“Remaining aware of the latest trends and shifts allows organizations to take a
proactive approach to cybersecurity and create data-driven strategies to
protect their data and systems,” Martenson added.
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