The financial sector has been identified as one of the industries targeted by ransomware cyberattacks in the past 12 months, according to the latest research from cyber companies. barracuda.
Attacks on the financial industry represent 6% of the top 106 widely publicized ransomware attacks recorded since August 2021.
Ransomware attacks targeting financial institutions and institutions also tripled compared to the same period last year.
In addition to the financial industry, the study found that the education, local government, healthcare and infrastructure sectors are also under threat.
Ransomware attacks on educational institutions more than doubled year-over-year, attacks on the healthcare and financial industries tripled, and infrastructure-related attacks quadrupled.
The study correlates the growing number of service providers (companies that provide IT and other business services) with rising levels of ransomware attacks.
Barracuda’s announcement stock appA report found that ransomware attacks increased by 78% between 2020 and 2021. Atlas VPNthe amount of ransomware in the world surged 105% over the same period.
However, according to public data, ransomware attacks continue to have limited success in extracting monetary value from victims.
Barracuda’s own detections reveal that ransomware threat volume spiked to 1.2 million per month between January and June 2022.
The company notes that most ransomware attacks don’t make the headlines because many victims choose not to disclose when they are attacked, and attacks are often sophisticated and very unwieldy for small businesses. I’m here.

As ransomware and other cyberthreats continue to evolve, the need for the right security solution has never been greater, he explains. Fleming city, CTO of Barracuda. Many cybercriminals target small businesses in an attempt to gain access to larger organizations.
As a result, it is imperative that security providers create products that are easy to use and implement, regardless of the size of the company.
Furthermore, sophisticated security technologies must be made available as a service so that businesses of all sizes can protect themselves from these ever-changing threats.
By making security solutions more accessible and user-friendly, the industry as a whole can better defend against ransomware and other cyberattacks.