More Ransomware Attacks Up to September Than Whole of 2020

More Ransomware Attacks Up to September Than Whole of 2020

Most UK business leaders expect cyber-threats to surge next year, with ransomware, business email compromise (BEC), cloud and supply chain attacks all predicted to increase, according to PwC.

The findings come from the consulting giant’s 2022 Global Digital Trust Insights Survey and were distilled from interviews with 257 business and technology executives in the UK.

Although most (63%) respondents said they expect security budgets to increase next year, even more (66%) predicted cyber-threats would rise. Ransomware (61%), BEC (61%), malware via software updates (63%), and cloud compromise (64%) were among the most notable.

Bobbie Ramsden-Knowles, crisis and resilience partner at PwC UK, claimed the firm’s threat intelligence team has tracked more ransomware incidents globally up to September this year than for the whole of 2020.

“Whereas other types of crises may be perceived as ‘black swan’ events that cannot be predicted, ransomware attacks have become so widespread that we have seen a common set of challenges and decisions that all organizations would face,” he added.

“Developing – and aligning – ransomware playbooks for executive crisis teams and operational responders is a no-regrets move. And, testing these through war games and exercises can reduce uncertainty,

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