Cyber-Insiders-v9-spreads - Flipbook - Page 34
Ransomware
THE INCREASING COMPLEXITY
OF CYBER-ATTACKS AND THE
WIDESPREAD IMPACT OF SUPPLY
CHAIN VULNERABILITIES PRESENT
SIGNIFICANT CHALLENGES FOR
RETAILERS IN SECURING THEIR
IT ASSETS.
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ADARMA CYBER INSIDERS
It’s no surprise that ransomware
continues to pose a signi昀椀cant
risk for retailers in 2024, given its
frequent presence in the news. The
persistence of ransomware can
be attributed to two main factors.
Firstly, many companies are still
willing to pay the ransom. Recent
research indicates that over $1
billion was paid to cybercriminals
in ransoms in 2023, highlighting
that ransomware has become a
lucrative business. Secondly, many
modern ransomware attacks not
only encrypt data but also threaten
to leak that data if the victim
does not comply. This evolution
has given ransomware gangs an
additional revenue stream and
has, unfortunately, created more
reasons for victims of all kinds to
pay once their data is encrypted.
