BENGALURU: Ransomware has transitioned into an organised, scalable business model via Ransomware-as-a-Service (RaaS), where even low-skilled cybercriminals can launch sophisticated attacks, says a report by Check Point. The September 2024 Ransomware Status Report flags the dangers of a rapidly evolving ransomware landscape. Also, the shift to data extortion by groups indicates that ransomware is becoming more difficult to prevent and mitigate. It says that these changes demand a stronger focus on safeguarding data rather than relying solely on preventing breaches.
Check Point says as groups like Meow prioritise data theft and extortion, even the most prepared companies with solid backup strategies remain vulnerable. Data can be stolen and sold, causing significant reputational and legal damage. It says to counter this, businesses must go beyond traditional backups and implement data-loss prevention (DLP) systems, enhanced encryption, and stringent access control policies. AI-driven threat detection is also crucial in combating modern ransomware tactics.
With new actors like RansomHub rising to prominence, while previously dominant groups such as Lockbit experience a sharp decline, the ransomware landscape is witnessing significant changes. Ransomware remains the most pervasive cyber threat, with financially motivated criminal groups deploying increasingly sophisticated tactics, including RaaS models and double extortion. The report, based on Check Point Research’s (CPR) September 2024 analysis, also says that certain industries, like industrial manufacturing, healthcare, and education, are particularly vulnerable. These sectors need tailored solutions to secure legacy systems and protect sensitive data. In healthcare, ransomware is not just a cyber security threat—it can disrupt critical services, making automated incident response and real-time monitoring essential.
It also points out tactical shifts from encryption to data extortion. One of the most significant changes observed in 2024 has been the shift in ransomware tactics, with many groups moving away from encryption-based attacks toward data theft and extortion. The future of ransomware shows no signs of slowing down. Enterprises must adopt proactive cyber security strategies, including AI-driven defences and zero-trust models, to survive in this ever-changing threat landscape. Those that invest in real-time threat intelligence and comprehensive data protection will be the ones to withstand these evolving challenges, it added.