Cyber criminals eye big players for higher payouts, warns Moody's

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Cyber criminals eye big players for higher payouts, warns Moody's - Business Standard

Quick Summary:

Moreover, the entire process of launching a phishing attack can now be fully automated using GenAI, reducing operational costs by up to 95 per cent while maintaining or even increasing the effectiveness of these attacks.

Continuous monitoring and detection: Proactively monitoring the networks of suppliers and partners for any unusual activity can help detect potential breaches before they escalate into larger attacks.

According to Coveware, a ransomware recovery firm, the share of victims willing to pay ransom to cyber criminals dropped to 28 per cent in the beginning of 2024, compared to 85 per cent in 2019 during the same period.