Ransomware-as-a-service tops evolving global cyber risks

Munich Re found that first-party cyberattacks have become the main cause of concern, with ransomware the chief worry.  Among ransomware’s many evolutionary developments is “ransomware-as-a-service”, opening up a way in for bad actors without an iota of tech expertise. Another is so-called triple extortion, whereby attackers seek two ransoms from the initial target and then a third from anyone who might be impacted by disclosure of its data. Multiple extortion looks set to be the inevitable next step.

In terms of sector, cyber attackers are increasingly targeting small and midsize enterprises (SMEs) because of their generally weaker controls.

For full article, see Ransomware-as-a-service tops evolving global cyber risks | PropertyCasualty360