Ransomware ‘business’ is hot as attacks surge

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Ransomware has become a hot business model.

The number of organizations affected by ransomware has jumped 102% compared to the beginning of 2020 and “shows no sign of slowing down,” according to a research note last month from IT security firm Check Point, adding that the number of organizations impacted by ransomware globally has more than doubled in the first half of 2021 compared with 2020.

The healthcare and utilities sectors are the most targeted sectors since the beginning of April 2021, according to the note.

Motorists use gas pumps at a refueling station on May 12, 2021 in Benson, North Carolina. Most stations in the area along I-95 were without fuel following the Colonial Pipeline hack.  (Sean Rayford/Getty Images)

Driving this surge is the Ransomware-as-a-Service (RaaS) model. Criminals favor RaaS because it leverages a partner program to execute cyberattacks, serving to shield the real…

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