Increased Sophistication Of Commercial Cyber Crime
The knowledge that state actors have around cybercrime is spilling into the commercial world as nation-state groups increasingly target private commercial and civilian organizations for attack, according to Varonis co-founder, President and CEO Yaki Faitelson. As a result, Faitelson said there’s been a drastic uptick in the level of sophistication of adversaries as they target victim data.
Faitelson said cybercriminals are finding it easier to get paid for carrying out ransomware attacks due to the pervasiveness of cyberinsurance policies, according to Faitelson. The threat groups then in turn invest the proceeds from the ransom payments to acquiring more sophisticated hacking tools.
Bad actors are elevating their game and becoming more sophisticated by unleashing ransomware through supply chain attacks and seamlessly camouflaging themselves into the victim’s environment, Faitelson said. The productivity gains associated with digital transformation and being able to access data from anywhere are accompanied by much higher risk since the attack surface is now much bigger.