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Security Yearbook 2021 by Richard Stiennon Published
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Grocer specializing in international food breaks into Baltimore market
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Ransomware Cartels Using New Tactics to Extort Money
San Francisco, California, 9 June 2021 – Gangs of cyber criminals, organising themselves along the lines of drug cartels, are changing the ‘rules’ of ransomware attacks to keep ahead of the authorities’ efforts to thwart their activities. That’s the conclusion of a new report by leading cyber analytics expert CyberCube.
According to CyberCube’s report,
, cyber criminals are organising themselves into cartels involving their peers in the criminal underground. These cartels, formed to execute attack campaigns collaboratively, are expanding the playbook used by hackers to include so-called ‘double-extortion’, data exfiltration and data modification.
The report concludes that in 2021, cybercriminal cartels behind ransomware payloads will be responsible for the majority of attritional losses in the insurance market, and potentially even aggregation events due to cyber-attacks.
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