Organized Crime Has Discovered Cyberattacks – and Business Is Booming

Checked your insurance cover recently?…:

[…] According to the Israel National Cyber Directorate, “There were 120 ransomware incidents in the first half of 2020, compared to 200 for all of 2019.” Assuming that trend continues, that would mean a total of 240 attacks this year – an increase of 20 percent.

Breakdown of cyberattacks: Ransom, wire fraud, email theft, other
Breakdown of cyberattacksCredit:

And those are only the attacks reported to the directorate. For various reasons, attacked companies often choose not to inform the authorities about the breach.

Shay Simkin, the global head of cyber insurance for the Howden insurance company, said that “2019 was a very difficult year for ransomware attacks. The insurance industry as a whole paid out a lot of money. But 2020 has already exceeded it, by a lot.”


Original article here