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Ransomware remains a huge threat to businesses

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Geekz Snow

Cybercriminals have changed their tactics when launching ransomware attacks after finding that those targeting businesses offer a much higher return on investment than attacks against consumers, according to new research from Malwarebytes.

In the past year, business ransomware detections increased by 365 percent with Ryuk and Phobos increasing by 88 percent and 940 percent respectively.

GandCrab and Rapid ransomware attacks on businesses also increased during the same period with Rapid up by 319 percent and GandCrab up by just five percent.

Malwarebytes' report shows how cybercriminals can reap “serious benefits” by ransoming organizations over individuals as consumers only have a few personal files which could be used for extortion or identity theft while businesses have much more sensitive data they would be willing to pay to regain access to.

In terms of countries most targeted by ransomware, the US took the top spot at 53 percent of all detections followed by Canada at 10 percent and the UK at nine percent.

In the UK, Manchester had the most ransomware detections followed by Royal Kensington and Chelsea, Reading, Harrow and Leeds.

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Geekz Snow
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