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Trend Micro, a leading global cybersecurity company, released a new report about how the ransomware market could enter a new chapter that sees hackers diversify into other types of cybercrime or even join forces with more severe criminal organisations.
In response to corporate defensive strategies, law enforcement successes, and government sanctions against cybercrime syndicates, threat actors are likely to shift their approach towards greater sophistication and scale of attacks.
“Change is the only constant in cybercrime, and sooner or later, economic and geopolitical forces may compel ransomware groups to adapt or die,” Trend Micro Vice President of Threat Research Jon Clay said.
“Amidst this uncertain threat landscape, network defenders need platform-based security to provide visibility and control across all attack surfaces, including hybrid cloud infrastructure. Our latest report will help them prepare for the future.”
The report briefly discusses the development of ransomware and the fundamental components of recent attacks before presenting hypothetical situations that illustrate potential future dangers.
In addition, the report highlights that ransomware is already a lucrative business for many cybercriminals and has been growing exponentially in the past few years.
This has led to it being seen as one of the most dangerous malware threats currently facing organisations worldwide due to its ability to cause widespread disruption, generate vast amounts of revenue, and cause significant reputational damage.
To be ready for these scenarios, Trend Micro’s report also offers a list of potential countermeasures, including:
- Hardening internet-facing and internal corporate systems
- Migrating to cloud services
- Focusing defensive efforts on detection and response and initial access vectors
- Strengthening government sanctions on prominent actors and facilitators
- Regulating cryptocurrency to increase transparency, protect consumers against fraud and make money laundering harder
The recent developments in the ransomware landscape signal that everyone needs to take this threat seriously and start ramping up their defences.
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