Ransomware attacks have become more commonplace in recent years, and the trend shows no sign of slowing down. In fact, experts predict that the threat of ransomware will only become more dangerous over the coming years as attackers continue to refine their methods and target businesses more than ever before. In this blog post, I discuss what we can expect from ransomware attacks in 2023, including how organizations should prepare for them.
One of the biggest changes to expect over the next few years is an increase in targeted ransomware campaigns designed to take advantage of vulnerabilities within certain networks or industries. As attackers become better at exploiting known vulnerabilities and targeting preferred victims, it’s highly likely that they’ll be able to gain access to sensitive information or assets with relative ease. This means that businesses should be vigilant when it comes to seeking out and patching any security flaws in their software or hardware that could leave their organization vulnerable.
In addition, experts are expecting a rise in ransom demands as attackers gain more confidence and grow bolder with their tactics. Recent reports suggest that some attack groups are demanding payments of up to $2 million for decryption keys; however, these types of extortion attempts are still relatively rare compared with other forms of cybercrime. That said, the potential for large ransom demands amongst high-value targets will only increase in 2023 if business owners fail to adequately protect themselves against such threats.
Another development expected by experts is increased collaboration between attackers and malware groups who work together to leverage existing resources – such as cryptocurrency wallets – or combine skillsets in order create even more dangerous cyber threats. This cooperation has already been seen in several major ransomware cases during 2020/2021 and is expected to ramp up even further over the following year.
Finally, attackers may choose to adopt ‘double extortion’ tactics whereby stolen data is released publicly alongside a ransom demand for its safe return – something which happened recently with Maze ransomware group’s attacks on Cognizant, a Fortune 500 company and one of the biggest providers of IT services in the world. It’s likely that these types of tactics will now become increasingly common amongst fraudsters operating within this space throughout 2023. In that case, businesses should take steps to secure both their internal systems and sensitive data against malicious actors looking for easy targets.
All things considered, it’s clear that ransomware threats will remain prevalent throughout 2023 – with new challenges ahead for organizations looking to protect themselves from becoming victims of crippling cyberattacks. By taking proactive steps such as patching security flaws promptly and having adequate backups available at all times; plus educating staff on recognizing risks associated with phishing emails or malicious links; businesses can significantly reduce their level risk posed by those wishing them harm.
