5 ransomware trends that should alarm banks

5 ransomware trends that should alarm banks

Posted October 6, 2020

5 ransomware trends that should alarm banks

  • According to a report published Tuesday by the security company Arctic Wolf, the banking sector saw a 520% increase in phishing and ransomware attacks between March and June of this year. Arctic Wolf has 250 bank and credit union customers.
  • Though they’re targeted with ransomware all the time, U.S. banks have mostly escaped being paralyzed by ransomware so far because they have strong controls in place.
  • Place patching first on the list of anti-ransomware practices. Other items include network segmentation, gaining visibility into activity on end points, use of machine learning and artificial intelligence to detect unusual network or data access behavior, and preparing for ransomware attacks through simulations and response plans.

– Penny Crosman | October 6, 2020