Allianz Global Corporate & Specialty (AGCS) notes that cybercrime increased by 125% in the first half of 2021 compared to the previous year. The biggest gainers are ransomware attacks and extortion. This is what the insurance company says in a report about the biggest risks that companies run in the field of cybersecurity in 2021.
Ransomware attacks have increased by 62%. It is estimated that these attacks cost around $20 billion. Cybersecurity Ventures predicts that costs will reach $265 billion by 2031.
“The number of ransomware attacks may actually increase before it gets better,” said Scott Sayce, Global Head of Cyber at AGCS. He adds that not every attack is targeted. Criminals also shoot hail at companies that are not properly secured. Criminals randomly attack poorly secured organizations in the hope of hacking into valuable systems.
AGCS also identifies four trends, which we explain here.
Ransomware as a service
The world is increasingly digital and working from home has become the norm due to Covid-19. At the same time, many organizations are cutting back on IT, leaving their