New Report Finds Ransomware Attacks Have Sharply Increased in 2017

New Report Finds That Ransomware Attacks Have Sharply Increased in 2017

Mobile ransomware is on the rise as a report released yesterday has noted a dramatic increase in 2017 compared to years past.

Also read: More Fintech Opportunities if US and UK Cooperate on Regulation

Kaspersky Lab Report: Mobile Ransomware on the Rise

According to a report by Kaspersky Lab, mobile ransomware has increased by 3.5 times in the first part of 2017 as compared to the same time last year. Mobile Ransomware report
This dramatic rise has been driven by the Svpeng family of ransomware. Kaspersky mentioned that its peak activity in late December 2016 acted as the springboard for the sudden and sharp increase this year.

The mechanism behind the ransomware included a quarter million Trojan installation packages, which mainly targeted Android phones.

Additionally, unlike PC-based ransomware that uses exploit kits and phishing as a means of distribution, researchers at Kaspersky reported that mobile ransomware was mainly dispersed through malicious downloads of fake mobile video players or as part of a fake mobile Adobe Flash player download.

After analyzing data regarding smartphone users who have been victimized by ransomware, researchers also discovered that German users were targeted the most and that US-based attacks were quickly rising.

According to the report, countries hit the hardest by mobile ransomware are Germany (23 percent), Canada (20 percent), United Kingdom (16 percent) and the United States (15.5 percent).

Google and Kaspersky’s Campaign Against Ransomware

The report also noted that most of the mobile attacks within the last year have been the result of just a few groups of malware.

Furthermore, it mentioned the rise of Ransomware-as-a-Service and the effect it has had on ransomware prevalence:

“Ransomware is growing in sophistication and diversity, offering a lot of ready-to-go solutions to those with fewer skills, resources or time – through a growing and increasingly efficient underground ecosystem.”

Despite all the negative news coming from the report, Kaspersky is also hopeful that global initiatives against ransomware will succeed, citing its very own “No More Ransomware” project.

The project was launched last July as a kind of joint task-force between private and public organizations alike to combat ransomware. They offer advice and services such as finding and providing the decryption keys to encryption ransomware.

Kaspersky Labs aren’t the only ones making it their business to go after Ransomware. Google recently announced that they were focusing on making their Android phones more secure against Ransomware attacks.

This announcement included showcasing some features they had developed for their Android OS as well as stating that their goal is to make it immune to ransomware altogether.

Considering Kaspersky Labs report, they’ll probably get a decent sample size in how well their new security features hold up to attacks — maybe sooner than they expected

What do you think of Kaspersky Labs report and their findings? Let’s hear your thoughts below.


Images Via Kaspersky Lab, Softpedia News

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