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Public ransomware victims increase 100 percent year-on-year

July 20, 2023 – Published on Beta News

A new report from GuidePoint Security shows a startling 100 percent increase in publicly posted ransomware victims from Q2 2022 to the last quarter.

The study from the GuidePoint Research and Intelligence Team (GRIT) also shows a 38 percent increase in public victims compared to Q1 of this year.

Manufacturing and technology, representing 14 percent and 11 percent of impacted industries respectively, continue to be the most affected industries, a trend that has persisted from GRIT’s observations in 2022 and Q1 of 2023. The consulting (+236 percent) and insurance (+160 percent) industries experienced the greatest relative growth in observed ransomware attacks. This contrasts with a relative decline experienced by governments (-61 percent) and the automotive industry (-59 percent).

“Q2 2023 continued to highlight the growing ransomware threat facing organizations across the globe, from both established ransomware gangs and emerging or ephemeral opportunistic groups,” says Drew Schmitt, GRIT lead analyst. “Reduced barriers to entry afforded by the Crimeware-as-a-Service and Ransomware-as-a-Service economies will almost certainly encourage more entrants going forward, and though the re-use of historical malware and ransomware provides an advantage for well-prepared and resourced defenders, smaller or less-resourced organizations will face an increased risk from the greater volume of threats.”

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