July 5, 2022

Volume XII, Number 186

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July 05, 2022

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Joint International Advisory Warns of Increased Global Threat of Ransomware

A joint Cybersecurity Advisory issued by U.S. and international partners, entitled “2021 Trends Show Increased Globalized Threat of Ransomware,” warns of “the growing international threat posed by ransomware over the past year” on a global perspective.

The trends outlined by the Cybersecurity and Infrastructure Security Agency, the Federal Bureau of Investigation, the National Security Agency, the Australian Cyber Security Centre, and the United Kingdom’s National Cyber Security Centre include:

  • Cybercriminals are increasingly gaining access to networks via phishing, stolen Remote Desktop Protocols (RDP) credentials or brute force, and exploiting software vulnerabilities.

  • The market for ransomware became increasingly “professional” and there has been an increase in cybercriminal services-for-hire.

  • More and more, ransomware groups are sharing victim information with each other, including access to victims’ networks.

  • Cybercriminals are diversifying their approaches to extorting money.

  • Ransomware groups are having an increasing impact thanks to approaches targeting the Cloud, managed service providers, industrial processes and the software supply chain.

  • Ransomware groups are increasingly targeting organizations on holidays and weekends.

The advisory stresses the fact that ransomware “is a rising global threat with potentially devastating consequences…[and] remains one of the most disruptive cyber threats to organisations and individuals [that] requires a global solution.”  It is meant to provide education about the global threat of ransomware, and mitigation actions that companies can take to “bolster resilience.”

The “immediate actions that can be taken now include ensuring timely patching of all operating software; implementing a user training program that includes recognizing and reporting suspicious emails; securing and monitoring remote desktop protocol, if used; and maintaining an offline backup of your data.”

The threat of ransomware continues to rise and it is encouraging to see allies working together to assist in a global response.

Copyright © 2022 Robinson & Cole LLP. All rights reserved.National Law Review, Volume XII, Number 48
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About this Author

Linn F. Freedman, Robinson Cole Law Firm, Cybersecurity and Litigation Law Attorney, Providence
Partner

Linn Freedman practices in data privacy and security law, cybersecurity, and complex litigation. She provides guidance on data privacy and cybersecurity compliance to a full range of public and private clients across all industries, such as construction, education, health care, insurance, manufacturing, real estate, utilities and critical infrastructure, marine, and charitable organizations. Linn is a member of the firm's Business Litigation Group and chairs its Data Privacy + Cybersecurity Team. She is also a member of the Financial Services Cyber-Compliance Team (CyFi ...

401-709-3353
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