In our interconnected world, ransomware is a growing menace. State cybersecurity agencies have issued a warning about a new strain called ‘Akira’ capable of infiltrating and encrypting files. This alert comes from the Union government’s CERT-In, highlighting the imminent danger posed by Akira ransomware to individuals and organizations. Akira has been active since March 2023, breaching corporate networks using VPNs, especially targeting entities without two-factor authentication.
It poses a significant threat to various sectors, ranging from healthcare giants to financial institutions and small businesses. No industry is impervious to the constantly evolving strategies employed by cybercriminals. Given the potential for devastating data breaches and financial repercussions, organizations are intensifying their efforts to proactively counter this impending danger.
These five companies have recognized that the inevitability of ransomware attacks necessitates proactive intervention and cutting-edge technology. In this article, we delve into the world of cyber resilience, where these leading cyber risk management companies are at the forefront, dedicated to fortifying sectors against the crippling impact of ransomware attacks.
Arete
Arete transforms the way organizations prepare for, respond to, and prevent cybercrime. Arete has closely examined the developments, providing valuable insights into the current state of ransomware threats. ransomware has had a significant impact on various industries, with the top five being professional services (26%), public services (24%), manufacturing (23.66%), high technology (15%), and healthcare (11%). These sectors are particularly vulnerable due to the valuable data they possess, including customer information, intellectual property, financial records, and operational secrets, which threat actors can exploit for financial gain or a competitive edge.
Quick Heal Technologies
Quick Heal Technologies Ltd, a global cybersecurity solutions provider catering to consumers, businesses and government organizations, released its comprehensive report on the cyberthreat landscape in India for the second quarter of 2023 from April to June. The report highlights a staggering 102.8 million cyberattacks detected by Quick Heal Security Labs experts across the country. This significant increase in cyber threats underscores the pressing need for heightened cybersecurity awareness and proactive measures to protect digital assets.
As the cyber threat landscape continues to evolve at an unprecedented pace, Quick Heal remains steadfast in its commitment to safeguarding digital ecosystems. While the experts at Quick Heal Security Labs continue to tackle cyber threats head-on, users are urged to remain vigilant and take an active role in safeguarding their digital presence.
Barracuda Networks
Barracuda Networks, Inc., a leading provider of cloud-first security solutions, Barracuda researchers analyzed 175 publicly reported successful ransomware attacks across the world between August 2022 and July 2023, and in the primary categories Barracuda has been tracking — municipalities, healthcare and education — the number of reported attacks have all doubled since last year and more than quadrupled since 2021.
Noventiq
Noventiq (the brand name of Cyprus-registered Softline Holding plc) is a global solutions and services provider in digital transformation and cybersecurity, which has been headquartered and listed in London. The company enables, facilitates and accelerates digital transformation for its customers’ businesses. Noventiq’s AI solutions help in identifying online threats and provides cloud protection.
CrossFraud
CrossFraud is an enterprise risk management platform from Manipal Technologies Limited for managing fraud risk, anti-money laundering, and compliance, enhanced with AIML capabilities. CrossFraud® is a self-adaptive system powered by AI that helps organizations in the effective identification & management of financial frauds, money laundering transactions, and credit risk flags. It uses Artificial Intelligence (AI), Machine Learning (ML) to discover invisible correlations and analytics to analyze, financial & non-financial connections, which help in the timely detection of fraud and suspicious transactions.
In conclusion, the landscape of cybersecurity is continually evolving, and the ever-present threat of ransomware demands proactive measures and innovative solutions.As these companies continue to forge ahead in the realm of cyber resilience, they serve as beacons of hope in an increasingly complex digital world. Their efforts remind us that with vigilance, collaboration, and the right tools, we can collectively fortify our industries and work towards a safer and more secure digital future.