14 Aug Ransomware Trends In 2024: Larger Targets, Severe Losses, Devastating Downtime
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This week in cybersecurity from the editors at Cybercrime Magazine
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Sausalito, Calif. – Aug. 14, 2024
Cybersecurity Ventures predicts that the global annual cost in damages of ransomware is predicted to reach $42 billion by the end of this year and $265 billion by 2031.
According to an article in The Register, sponsored by Nutanix, ransomware trends in the second half of 2024 include:
Bad actors targeting larger, higher-profile organizations, resulting in more severe losses;
Attackers and insider threats becoming more sophisticated, requiring faster and more comprehensive prevention and recovery solutions;
Businesses focusing on ransomware prevention as well as data recovery because the cost and downtime from successful attacks can be devastating, especially for critical industries such as healthcare, financial services and government.
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