Fraud Management & Cybercrime , Governance & Risk Management , IT Risk Management
Criminal Innovation and Underreporting by Victims Hampering Response Mathew J. Schwartz (euroinfosec) • October 8, 2020 Excerpt from the Sodinokibi ransomware-as-a-service operator's auction site for stolen data (Source: Europol's IOCTA 2020 report)Ransomware continues to solidify its position as being as the No. 1 online threat targeting public and private organizations.
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Seeking maximum returns, more gangs have moved beyond opportunistic attacks to target organizations with what experts call "post-intrusion ransomware." Meanwhile, many victims fail to report such crimes to police, hampering their ability to disrupt these attacks.
"Ransomware in particular remains a priority threat encountered by cyber investigators"
"The biggest problem that we face right now ... is ransomware," Ciaran Martin, who until Aug. 31 served as CEO of the U.K.'s National Cyber Security Center - the public-facing arm of Britain's GCHQ intelligence agency - said on Wednesday.
Martin was speaking at a virtual event organized by the Scottish Business Resilience Center, which helps coordinate better cybersecurity and resiliency practices across the public and private sectors.
The professor of practice in the management of public organizations at Oxford University's Blavatnik School of Government noted that the impact of ransomware has continued to surge. "To my very last hours at the NCSC, if the phone ..
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