Vendor Reliance and M&A Surge Contribute to Heightened Ransomware Threat

In 2024, threat actors are likely to evolve tactics to exploit the consolidation of businesses and technologies.

The mid-year 2024 cyber risk report released by Resilience Group indicates that mergers and acquisitions (M&As) are becoming more popular as well as the trend of increased reliance on major software vendors, allowing threat actors to take advantage of new opportunities.

A growing number of threat actors are exploiting business consolidations and technological advancements to launch widespread ransomware attacks, which means organizations need to rethink the way they address new vulnerabilities if they want to remain secure and resilient in the future.

As a result of mergers and acquisitions (M&A) and an increased reliance on key software vendors, cyber security firm Resilience has found that there is a record number of potential points of failure for hackers to exploit, which has resulted in the most damaging cyber incidents of the last year, resulting in an unprecedented number of potential points of failure.

According to the latest statistics, ransomware is the leading cause of financial losses around the world. Using the ‘business and technology consolidation’ as an opportunity to benefit from the consolidation of business and technology, threat actors have evolved their tactics in 2024 according to Resilience, a leading provider of cyber risk solutions which published its Midyear Cyber Risk Report 2024.

This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents