Recent studies have shown that in 2022, there was a 40% drop in the monitored revenue from ransomware attacks from 2021.

Whilst these figures are not guaranteed, as large amount of the criminal revenue cannot be monitored, it is widely agreed by experts the amount of ransom money collected has fallen. We can however only track some of the proceeds from Cyber Crime as most transactions take place through Bitcoin, an anonymous digital currency, in wallets that have been linked to the Cyber criminals.

This change of trend is not caused by the number of attacks decreasing, with ransomware attempts currently being at the highest they have ever been. The number of variations of ransomware has also increased dramatically throughout 2022.

So what’s changed?

Businesses are becoming more resilient to Ransomware attacks by putting in proper preventative measures and taking their security seriously. This is achieved through a variety of technical and educational controls being implemented within businesses of all shapes and sizes across the globe.

It is also due to the changing threat landscape. Large, western businesses are being targeted less frequently as they have built stronger defence lines and are less likely to pay a ransomware request. Instead, Cyber attackers are targeting smaller, and likely more vulnerable, businesses.

It is important for businesses of all sizes to consider their business security, small and inexpensive changes can make the difference that helps to  prevent hugely damaging security incidents.

Staying Cyber Wise remains ever important for your business, contact us today to learn how we can help you prepare to stay safe!

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