What’s Going On?
Ransomware continues to be the biggest malware threat to global business, but cryotojacking and mobile threats are emerging as serious challenges, says international law enforcement organisation Europol.
Why Does It Matter?
Europol’s annual Internet Organised Crime Threat Assessment (IOCTA) provides a snapshot of current industry trends and reflects the findings of many security vendors, reported Info Security magazine. The latest report reveals incidents of ransomware are slowing but remain the most widespread threat out there.
So Crypto Is Safe And Sound?
Not quite – while ransomware still poses a threat, Europol also warned businesses should be aware of the rise of cryptojacking malware, which it says “may overtake ransomware as a future threat”, reported ZDNet.
“There are a range of cryptocurrency crimes taking place, according to Europol, and cyber attacks which historically targeted financial instruments are now targeting cryptocurrency users and businesses,” reported Sky News. “Cryptomining has been exploited by financially motivated cyber criminals, who for instance hack legitimate websites to cryptojack users visiting those sites – hijacking their CPU power to mine more of the currency.”
Europol also said it expects “a more pronounced shift towards more privacy-oriented currencies”, reported Sky News. This will lead to “an increase in extortion demands and ransomware in these currencies”.
And unscrupulous governments might be behind some cryptojacking attacks, warned Europol. The agency said: “In addition to attacks by financially motivated criminals, a significant volume of public reporting increasingly attributes global cyber-attacks to the actions of nation states,” Malaysia’s Star Online reported.