Arete, a cyber risk management firm, has unveiled its latest report titled ‘Turning Tides – Navigating the Evolving World of Cybercrime.’ The study delves into the shifting landscape of cyber threats witnessed by Arete in the first half of 2023.
According to the report, data collected from Arete incident response engagements unveils a detailed analysis of ransomware patterns. The report delves into the evolution of ransomware strains, changes in ransom demands and payments, the sectors most frequently hit by ransomware assaults, and potential upcoming developments.
A notable revelation is the professional services sector emerging as the prime target, experiencing a noteworthy uptick of nearly 12% since the latter part of 2022. Despite an overall increase in ransom demands by cybercriminals, Arete’s data demonstrates that only 19% of cases in the first half of 2023 led to actual ransom payments.
Key findings of the report include a surge in LockBit ransomware incidents, claiming a significant 30.3% share of all ransomware cases tracked by Arete in the first half of 2023.
The report offers a detailed analysis of the five prominent ransomware variants observed during this period, accompanied by information on initial access routes and post-exploitation tools. Additionally, it examines the evolving threat landscape, including the growing accessibility of cybercrime facilitated by leaked resources, novel business models, and the integration of AI tools.
Moreover, the report highlights the socioeconomic consequences of the Russia-Ukraine War and the escalation of global law enforcement efforts against cyber criminals.
“Cybercrime is constantly shifting in response to new vulnerabilities, developing technology, and global socioeconomic events,” said Arete’s Chief Data Officer, Chris Martenson. “Remaining aware of the latest trends and shifts allows organizations to take a proactive approach to cybersecurity and create data-driven strategies to protect their data and systems,” Martenson added.
Another report by Check Point from July shows that there was an 8% increase in cyberattacks worldwide every week during Q2 2023. On average, organizations had to deal with 1258 attacks per week. Ransomware attacks affected 1 out of every 44 organizations globally each week, with a primary focus on APAC and Europe regions.
