42M+ People’s Financial Data Compromised in UK

According to a press release from international law firm RPC, a growing number of ransomware attacks has resulted in the disclosure of financial data pertaining to about 42.2 million persons in the United Kingdom. 

“The surprisingly high number of people whose financial data was impacted in the last year shows how cyber-attacks have become endemic,” said RPC partner Richard Breavington. “Hackers are continually refining their methods, employing ever more complex techniques to extort money in whatever way they can. Some businesses, fearing the potential reputational costs, not to mention other consequences, decide that they will take the last-ditch approach of paying the ransom demands. As a result, these attacks have become very lucrative for cybercriminals.” 

Cyberattacks are spreading at an alarming rate, notably in the United Kingdom. In the years 2019-2020, 2.2 million people’s data was stolen, compared to 42.2 million in the years 2021-2022, a startling increase of over 1,700% in just three years. One of the possible explanations for this increase in risking residents’ sensitive information was pointed to as an increase in data in general. The cybercriminal network will then sell the information in a marketplace and perhaps hold financial institutions for ransom if the data has been corrupted by malware or ransomware. 

Breavington explain

[…]
Content was cut in order to protect the source.Please visit the source for the rest of the article.

Read the original article: 42M+ People’s Financial Data Compromised in UK