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Cyber Update: Double Extortion Ransomware Events Jump 935%

Protecting your business and customer data can seem daunting in this ever-changing landscape of cyber security. One of the newer attacks we are seeing is known as double extortion.

Double extortion ransomware attacks follow a similar protocol to that of a typical ransomware attack. A cybercriminal first gains access to their target’s device or server, often via phishing scams, nonsecure websites or malicious attachments.

The difference is, double extortion ransomware comes with an extra threat: The victim must pay a ransom not only to regain access to their technology and data but also to keep that data from being uploaded publicly online.

The number of ransomware attacks involving double extortion tactics jumped from 229 to 2,371 in the span of a year, an unprecedented 935% increase, according to new research from Group-IB.

Click here for how Double Extortion Ransomware attacks work, why they are on the rise, and how to prevent them.

Additional Cyber Security Predictions

Insurance Business magazine recently shared cyber security predictions for 2022.

One threat they foresee making a comeback is the “Bank Heist,” where the attacker will access the networks of a bank to get to and manipulate the payment systems.

The other predicted threat is known as “deepface voice,” a technology that creates a realistic voice of someone else.

In the traditional scam, an email was sent to an employee requesting funds for a purchase. (This actually happened to us at The Turner Agency. We caught it just in time.) Now with so many people working remotely, criminals are using “deepface voices” to make a call or voicemail to someone

To learn more about these scams, click here for the full article.