These days, cybercriminals are organized and well-funded. Unlike a lone threat actor, ransomware groups will reinvest a portion of their profits into hiring and training talented cybercriminals, making them more dangerous to organizations. As ransomware tactics evolve, it’s important for organizations to be up to date on current ransomware techniques.

Here are five ransomware threats to know:

1. Attacking the Cloud

Ransomware groups target known vulnerabilities in cloud software and applications. Sometimes they access the cloud through targeted attacks on individual devices or cloud accounts.

2. Targeting Managed Service Providers

Compromising managed service providers enables cybercriminals to infiltrate multiple organizations in one attack.

3. Attacking Industrial Processes

According to the FBI, several ransomware groups have created code to stop critical infrastructure and industrial processes.

4. Targeting Supply Chains

Compromising software supply chains allows cybercriminals to gain access to multiple victim organizations in one breach.

5. Attacking on Holidays

Cybercriminals are increasingly attacking on weekends and holidays when there are fewer IT and support personnel working.

It's important to ensure your business has the proper insurance to protect against ransomware attacks. Connect with the Olsen & Olsen Insurance Services team to review your policy today!

This information is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.