Osterman Research recently released a white paper about the best practices for dealing with phishing and ransomware. Both phishing and crypto ransomware are increasing at a rate of several hundred percent per quarter, a trend that will likely continue for the next 18 – 24 months.

Financial Impact of Cybercrime

According to the FBI, the financial impact of cybercrime in general is hard to assess. But they estimate that ransomware alone cost organizations $209 million in the just the first three months of 2016. A US government interagency document published by the US Department of Justice in 2016 reported that in excess of 4,000 ransomware attacks have occurred each day since the first of the year, a 300 percent increase compared to 2015

Attackers receive an estimated 1,425 percent return on investment for exploit kit and ransomware schemes ($84,100 net revenue for each $5,900 investment), according to the 2015 Trustwave Global Security Report.The chart below shows the top ways that organizations have been infiltrated:

The stats about cybercrime aren’t new. The problem is just getting worse. What does this mean for CIOs, IT managers, IT directors, CISOs and other security-related decision makers? This chart describes decision makers top concerns:

Good News

There are many ways that organizations can protect themselves. Cybriant recommends having a solid cybersecurity framework in place before deciding on vendors or security tools. We offer a complimentary analysis using NIST, the cybersecurity recommended framework.

Complimentary Security Assessment (1)
Source: Osterman Research white paper Best Practices for Dealing with Phishing and Ransomware https://dm-mailinglist.com/subscribe?f=6b1c24a7