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Does Black Friday Expose Businesses to Potent Ransomware Attack Threats?

Does Black Friday Expose Businesses to Potent Ransomware Attack Threats?

Ransomware attacks have become a deep-rooted issue in the digital ecosystem. No business can confidently approve of stating that their existing IT and security infrastructure to be 100% cyber attack-proof, and this is a dangerous trend for everyone involved in the operations. As we approach the Black Friday shopping event, businesses have been warned against a surge in strong ransomware attacks that could inflict irreversible damage to brand and digital properties.

Black Friday Doomed by Ransomware Attack!

Ahead of Black Friday sales, retail and commerce are becoming an even more attractive target for cybercriminals. Businesses hit with a ransomware attack in the middle of the discount season could face irreversible monetary losses and customer distrust.

Retailers should not overlook their preparedness for different types of cyberattacks such as ransomware attack, as cybercriminals get more intense this season by exploiting vulnerabilities left on e-commerce sites.

According to the recent findings by the Atlas VPN team, retail and commerce businesses are under rising ransomware attack threats ahead of Black Friday sales. Furthermore, malware and social engineering attacks are at the top of methods used to threaten businesses.

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In Q1 2020, the ransomware attack percentage among malware attacks on retail and commerce stood at 11%. As the year progressed, the figure jumped to 33% in the second quarter and stayed the same in the third quarter.

In the first quarter of 2021, hackers came out strong right away, as ransomware attack percentage among malware attacks on retail and commerce industries reached 83%. Cybercriminals were not stopping in the second quarter, as the figure jumped to its highest point — 95%.

Different attack methods

Hackers tend to employ many different attacking methods, depending on what their goal is.

Among other attack methods, malware attacks accounted for 59% of threats to retail and commerce in Q2 2021.

Malware can carry ransomware, adware, spyware, and many other types of attacks.

Social engineering attacks made up 53% of threats among other methods launched at retail and commerce companies. Such attacks heavily rely on human interaction and manipulation to click on a phishing link or break usual security procedures.

Hacking attacks accounted for 26% of threats directed at retail and commerce businesses. Hackers attempt to access computers by exploiting vulnerabilities to steal data, install malware, conduct a ransomware attack, or gain access to a network.

Source: AtlasVPN

In Q2 2021, retail and commerce enterprises were targeted by 21% of web attacks, among other methods. Cybercriminals exploit vulnerabilities on e-commerce websites to obtain customers’ orders, including their sensitive data.

Source: AtlasVPN

[To share your insights with us, please write to sghosh@martechseries.com]

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