The new ransomware report from Barracuda shows: In addition to attacks on the classic industries, criminals are now increasingly targeting service providers, automotive, hospitality, media, retail, software and technology.
Cloud security specialist Barracuda has released its fourth annual report on the evolution of ransomware threats. The current report covers attack patterns from August 2021 to July 2022. Since the attack on Ukraine began, the goal of many high-profile cyberattacks has shifted from purely financial gain for the attackers to causing as much disruption and damage as possible. The volume of ransomware threats detected exceeded 2022 million per month in the first half of 1,2.
Attacked key industries
🔎 Report: Threat Spotlight – The untold stories of ransomware (Image: Barracuda).
Of the 106 high-profile attacks Barracuda's analysts looked at, five key industries remain the top targets:
- Education (15 percent)
- Municipalities (12 percent)
- Healthcare (12 percent)
- Infrastructure (8 percent)
- Finance (6 percent)
🔎 Report: Threat Spotlight – The untold stories of ransomware (Image: Barracuda).
The number of ransomware attacks has increased year-over-year in each of these five verticals. In particular, attacks on critical infrastructures have quadrupled in the period under review. While attacks on local government increased only marginally, the Barracuda analysis over the past 12 months found that ransomware attacks on educational institutions have more than doubled, and attacks on healthcare and finance have tripled. Attacks on other industries have also more than doubled compared to last year's report.
Other areas targeted by criminals
The service industry was hardest hit, but ransomware attacks on automotive, hospitality, media, retail, software and technology companies also increased. “As ransomware and other cyber threats continue to evolve, the need for adequate security solutions has never been greater. Many cybercriminals target small businesses and try to gain access to larger organizations,” said Fleming Shi, CTO Barracuda.
🔎 Report: Threat Spotlight – The untold stories of ransomware (Image: Barracuda).
It is therefore important for security providers to develop products that are easy to use and implement, regardless of the size of a company. In addition, they should offer sophisticated security technologies as services so that companies of all sizes can protect themselves against the ever-changing threats. "By making security solutions more accessible and user-friendly, the entire industry can help protect itself against ransomware and other cyberattacks," Shi said.
More at Barracuda.com
Via Barracuda Networks Striving to make the world a safer place, Barracuda believes that every business should have access to cloud-enabled, enterprise-wide security solutions that are easy to purchase, implement and use. Barracuda protects email, networks, data and applications with innovative solutions that grow and adapt as the customer journey progresses. More than 150.000 companies worldwide trust Barracuda to help them focus on growing their business. For more information, visit www.barracuda.com.