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Ransomware rockets – Trend Micro blocks 61m attacks

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No less than 110 American state and municipal governments and agencies fell victim to ransomware last year, with Trend Micro reporting a 10% increase in detections. In total, the cybersecurity solutions provider blocked 61-million attacks in 2019.

In its 2019 security roundup report, released this week, Trend Micro confirmed that ransomware continued to be a mainstay cyber threat last year. The 10% increase in ransomware detections came despite a 57% decrease in the number of new ransomware families. The healthcare sector remained the most targeted industry, with more than 700 providers affected in 2019.

The report details the most important issues and changes in the threat landscape to provide businesses with insights into best practices and strategies for protecting their infrastructures from current and emerging threats.

“Digital transformation has been a business buzzword for decades, and the concept has yielded very positive results over time,” said Jon Clay, director of global threat communications for Trend Micro. “But security is often an afterthought, which leaves digital doors wide open for cybercriminals. A lack of basic security hygiene, legacy systems with outdated operating systems and unpatched vulnerabilities are still a reality.

Emmanuel Tzingakis, Tech Lead for Trend Micro Sub Saharan Africa, said that this scenario was ideal for ransomware actors looking for a quick return on investment.

“As long as the ransom scheme continues to be profitable, criminals will continue to leverage it,” he said.

To improve the ransomware business process, alliances between ransomware groups were formed in 2019. For example, the Sodinokibi ransomware operators launched coordinated attacks on 22 local government units in Texas, demanding a combined US$2.5 million ransom.

This attack also demonstrated the “access-as-a-service” trend, in which criminal groups rent out or sell access to company networks. This service ranges in price from $3,000 to $20,000 USD, with the most expensive offering including full access to a company’s server hosts and corporate virtual private networks (VPNs).

Known vulnerabilities remain key to successful cyberattacks, including ransomware. In 2019, Trend Micro’s Zero Day Initiative (ZDI) disclosed 171% more high severity vulnerabilities than in 2018. The criticality score reflects the likelihood of these flaws being leveraged by attackers, so high severity bugs are more likely to be weaponized and the patches should be prioritized.

To protect against today’s threat landscape, Trend Micro recommends a connected threat defence across gateways, networks, servers and endpoints. Additionally, these best practices can increase a company’s security posture:

  • Mitigate ransomware with network segmentation, regular back-ups and continuous network monitoring.
  • Update and patch systems and software to protect against known vulnerabilities.
  • Enable virtual patching, especially for operating systems that are no longer supported by the vendor.
  • Implement multi-factor authentication and least privilege access policies to prevent abuse of tools that can be accessed via admin credentials, like remote desktop protocol, PowerShell and developer tools.

For more on the cyber threat landscape of 2019, access the full report here: https://www.trendmicro.com/vinfo/us/security/research-and-analysis/threat-reports/roundup/the-sprawling-reach-of-complex-threats.

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