Ransomware Revolution: 4 Types of Cyber Risks in 2023
The ransomware business model is poised to change. These four predictions could help to keep your organization secure from new forms of cyber extortion.
Stay updated on cyber extortion trends: threats, prevention tips, and incident responses. Protect your data with the latest info on digital ransom tactics.
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Background for this topic.
Extortion is coercion through threats: an attacker demands money or another concession while threatening harm if the victim refuses. In cybersecurity, this commonly involves encrypting systems and demanding payment for recovery, stealing data and threatening to publish it (often called double extortion), or threatening service disruption. The threatened harm may be real, exaggerated, or based on data the attacker did not actually obtain; payment does not guarantee data deletion, secrecy, or restoration.
Security teams should treat an extortion demand as a potential incident: preserve evidence, isolate affected systems, determine whether data was accessed, and involve legal and privacy specialists where notification or regulatory duties may apply. Offline, tested backups can reduce leverage from encryption, but they do not address stolen information. Reviewing exposed remote services, credentials, and unpatched internet-facing systems can help contain the access path, while threat intelligence may help assess the attacker’s claims and identify related activity.
The ransomware business model is poised to change. These four predictions could help to keep your organization secure from new forms of cyber extortion.
A Sydney man has been sentenced to an 18-month Community Correction Order (CCO) and 100 hours of community service for attempting to take advantage of the Optus data breach last year to blackmail its customers
Company transcribed ultra-personal conversations, didn't secure them. Criminal stole them, then extorted thousands of vulnerable patients.
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