Corvus Insurance has released its Q3 2023 Global Ransomware Report [1] [2] [3] [4], which reveals a significant increase in ransomware attacks. This report highlights the alarming rise in global ransomware attack frequency, surpassing previous years’ totals and projecting a potential 4,000 ransomware victims by the end of the year.
Description
The report shows that in Q3 2023, global ransomware attacks increased by 11% compared to Q2 and 95% year-over-year [1] [2] [3]. The CL0P ransomware group has played a significant role in this surge [1] [2] [3] [4], exploiting vulnerabilities in file transfer software [1] [2] [3] [4]. Additionally, ransomware activity has been driven by factors such as threat actors cutting their summer breaks short [3]. Notably, this year’s dip in attacks occurred later in June and remained high through the first half of August [1] [2] [4], deviating from the typical decrease in early May.
The report also highlights the industries most affected by ransomware activity, including law practices [1] [2] [3] [4], government agencies [1] [2] [3] [4], manufacturing [1] [2] [3] [4], oil and gas [1] [2] [3] [4], and transportation [1] [2] [3] [4], logistics [1] [2] [3] [4], and storage [1] [2] [3] [4]. These sectors have experienced the largest spikes in attacks [2] [3].
Conclusion
In light of these findings, Corvus Insurance emphasizes the critical importance of implementing effective security controls to mitigate the threat of ransomware attacks [2] [4]. The increasing frequency and impact of these attacks call for proactive measures to safeguard organizations and individuals. It is crucial to stay vigilant, address vulnerabilities, and invest in robust cybersecurity measures to protect against the evolving threat landscape.
References
[1] https://finance.yahoo.com/news/2023-ransomware-attacks-more-95-150000839.html
[2] https://www.businesswire.com/news/home/20231024778684/en/
[3] https://markets.financialcontent.com/stocks/article/bizwire-2023-10-24-2023-ransomware-attacks-up-more-than-95-over-2022-according-to-corvus-insurance-q3-report
[4] https://www.darkreading.com/attacks-breaches/2023-ransomware-attacks-up-more-than-95-over-2022-according-to-corvus-insurance-q3-report
