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New Report Profiles Ransomware Cybergangs

New Report Profiles Ransomware Cybergangs
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New Report Profiles Ransomware Cybergangs | Hacking

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By Jack M. Germain
May 21, 2021 4:00 AM PT
That old adage about crime never pays could not be more false, at least when it comes to modern-day cybercriminals. For those bad actors using ransomware as their weapon, crime is paying more than ever.
Cybersecurity company Emisoft estimates that the true global cost of ransomware, including business interruption and ransom payments in 2020, was a minimum of US$42 billion and a maximum of nearly $170 billion.
A survey by Veritas Technologies found that 66 percent of victims admitted to paying part or all of the ransom, according to a report released Wednesday by managed detection and response firm eSentire. ....

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