Cybersecurity Trends in 2020: Ransomware

2019 was full of mixed news in the ransomware landscape. For example,

  • In the first quarter of 2019, ransomware attacks grew by 118 percent, according to a McAfee report.  
  • In the first three quarters of 2019, a report by SonicWall showed that there were 151.9 million ransomware attacks, on a helpful note. This showed a 5 percent decrease from 2018.
  • Including local municipalities, schools, and hospitals, there was, in the US saw a significant rise in attacks on public sector organizations in 2019, as reported by Security provider Emisoft. 

What is meant by this? The cyber attackers who use ransomware can adapt faster to changing security while picking out those least equipped to fight their attacks, according to the experts. Experts of cybersecurity expect what ransomware will look like in 2020 and what organizations and companies can do to prepare. For ransomware in 2020, these are the cybersecurity trends.

The nature of the ransomware threat in 2019

Ransomware market is both endlessly adaptable and profitable to the changing defenses of cybersecurity software. It is explained by CISO at Connectwise, John Ford, how easy it is for cyber criminals to adapt their techniques to outwit current software trends.

Ford says that ‘it is an illegal underground market, but Ransomware is as close to a perfect economy as one could enter’. A remarkable increase in the availability of malicious code on the black market as he reported.

This code is more affordable and easier to use and has been made by cyber criminals. How to execute an attack, the sellers provide full tech support in teaching the attacker. The purchaser further modifies that code. This makes sure by this last action that security products that may have noticed and fended off the original code will likely fail to do the same with the modified version.

The criminals essentially produce a ransomware as a service model, with increased access to affordable code and better support, which Ford predicts will result in an increase in attacks over the course of 2020.

It may be more worrying to the general public than the threat to corporate data is the threat to public systems. Public and private organizations are targeted by some criminals at both the local and federal levels that rely on personal data but have traditionally implemented poor security.

This incentivizes other criminals to carry out similar attacks when organizations pay ransoms, Pettit says. Where the rewards of committing the crime greatly outweigh the punishments, the marketplace created by that.

In 2020 how companies and organizations should defend against ransomware attacks 

How should organizations prepare themselves, if 2020’s threats will become more complicated and harder to detect? Organizations and companies must modernize their infrastructures and go ahead from attackers before they become victims. They have to think about recovering systems, In addition, because even the best-protected systems will fall prey to attackers eventually.

Attackers won’t limit themselves to the traditional high-value targets like financial organizations, and because attacks are growing more specialized. Nearly every company and organization, in today’s digitized marketplace, stores and processes personal identifying information (PII), and that data has value on the black market.

Ransomware beyond 2020

Companies who hope to lessen their risk of attack while increasing their use of data for customer-driven use cases need to prepare in multiple ways, understanding the ransomware threat for 2020 is a start. External consulting, internal training and a trusted software defense will improve a company or organization’s chances of counter ransomware attacks.