Coveware, which provides response services to ransomware attacks, has released a report for the fourth quarter of 2020.
The 4 most interesting data from the report
1. The average ransom payment stands at $ 154,108
It is a decrease of 34% from the third quarter.
2. Organisations decline to pay
The significant decrease in the average payment is due to the fact that more and more organizations are deciding not to pay the ransom.
3. 70% of ransomware attacks also include theft of information from the victim and double extortion
It is an increase of 43% from the third quarter.
4. Social Engineering is the main attack type
In the current quarter the main attack channel was social engineering attacks.
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( Source: Coverware Ransomeware Report)
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Fremantle Executive Falls Victim to €937,670 CEO Fraud – A Wake-Up Call for Global Enterprises
🚨 CEO Fraud Strikes Fremantle – €937,670 Lost
A top executive at Fremantle fell victim to a sophisticated CEO fraud scheme, losing €937,670. The attacker impersonated the executive using cloned VoIP technology, instructing an employee to transfer funds to an Asian bank account.
The money was then dispersed to multiple international accounts, complicating recovery efforts. Upon realizing the deception, the executive alerted other company leaders and contacted the Italian police, who are now investigating the matter.
This incident highlights the growing threat of CEO fraud, a form of social engineering where attackers exploit human trust to manipulate employees into transferring large sums of money. Such attacks can have devastating financial and reputational consequences for organizations.
At AUMINT.io, we specialize in providing advanced solutions to detect and prevent social engineering attacks, including CEO fraud – Our services are designed to enhance employee awareness, implement robust verification processes, and safeguard your organization against emerging cyber threats.
Don’t wait until it’s too late – Schedule a consultation with AUMINT.io today to fortify your defenses against CEO fraud and other social engineering attacks.
#CyberSecurity #CEOFraud #SocialEngineering #BusinessProtection #AUMINT