Predicted Ransomware Trends for 2023 

Published: 13 February 2023

As we head into the new year, it is important for businesses to map out predicted ransomware trends. Cyber Security is a non-stop process with new threats constantly occurring, meaning it is a continually evolving problem. That’s why it’s important for businesses to prepare and plan for Cyber issues they may face in the future.  

A key Cyber threats nowadays is Ransomware. Ransomware is a type of malicious software (malware) that locks up a victim’s data or computer infrastructure and threatens to keep it locked until the victim pays a ransom.

This kind of threat can be substantial to businesses. According to research made by Cloudwards, ransomware attacks represented a total global cost of £16Billion in 2021 and is expected to rise to over £217Billion by 2031.  The importance of protecting your business from this threat cannot be understated.

That’s why we have collated some of the top predicted trends for Ransomware in 2023: 

Ransomware-as-a-service 

It’s predicted that there will be a rise in the number of Cyber Gangs providing amateur hackers Ransomware-as-a-service. This gives people the chance to arrange sophisticated attacks and allows those who lack the skills to carry-out attacks by themselves, to become successful attackers. 

Rise in amount of remote access markets 

Remote access markets are linked to Ransomware-as-a-service as they are marketplaces where you can sell and exchange access credentials from compromised websites. Anyone can purchase these credentials, which is a serious threat to an organisations IT infrastructure. 

Hackers becoming more efficient with automation

Nowadays, hackers are working more efficiently to carry out more attacks and increase their revenue. As a result, there  has been a rise in the amount of hackers automating tasks to reduce the risk of human error. Furthermore, hackers can compromise an organisation whilst using less resource. Blockchain technology is being used by hackers to do this. 

Targeting uncommon platforms 

Ransomware groups know any form of breach can prove costly to organisations, and with this in mind, attacks on smaller less common platforms is a threat. The internet of things (IoT) has opened up more avenues for hackers to attack. Any information can be vital to hackers, with administrative passwords sometimes being accessed on less common platforms. 

Summary

Ransomware attacks are continually evolving, therefore, it’s important to be aware of upcoming trends and forecasts. Staying up to date with the latest trends in cyber security can help you keep your business secure. 

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