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Warning by Europol over rising stats of Ransomware | Cyberops

Ransomware

Warning by Europol over rising stats of Ransomware

By Prempal Singh 0 Comment August 17, 2018

Director of The European Union Agency for Law Enforcement Cooperation, Rob Wainright has warned regarding the rise in number of  ransomware attacks to as many as 4000 per day.

“What really concerns me is the sophistication of the capability, which is becoming good enough to really threaten parts of our critical infrastructure, certainly in the financial, banking sector,” he said in an his interview to the Reuters.

Every year there now “seems to be a doubling, or tripling, of one kind of threat or another, in terms of scale”, Wainwright said.

He added “The real threat comes from a sort of exponential, remorseless increase in the scale and significance of cyber-criminal capability and the majority of cyber-criminals Europol faces are Russian speaking.”

Even bank payment systems and ATM cash machines fall prey, he said.

The launch of ransomware attacks such as Wannacry and Petya, which struck firms around the world in May and June, has changed the dynamic of such attacks, by propagating them more widely through companies’ computer systems, Wainwright said.

The rapidly spreading extortion campaigns underscored concerns that businesses have failed to secure their networks from increasingly aggressive hackers, who have shown they are capable of shutting down critical infrastructure and crippling corporate and government networks.

He further stated “Such criminals gangs operate on the so-called dark web, which can only be accessed with special software. It is used by criminals doing everything from selling drugs to guns, but also attacking payments systems and other parts of the financial system.”

“There is this sort of cyber criminal underworld that’s much bigger and smarter and adept than most people think and, against it, we still have generally low cyber security standards.” Wainright who leads Europol, the EU law enforcement agency quoted.

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