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Federal Trade Commission Hosts Ransomware Workshop

Posted by Lindsey Havens on Sep 9, '16

The Federal Trade Commission (FTC) responded to the rising ransomware threat on September 7, 2016 with a technology workshop in Washington, D.C. The workshop brought security experts, including PhishLabs' Vice President of Threat Research, Joseph Opacki, together to address common questions and concerns around the ransomware threat. Opacki  joined a panel during the workshop to educate the audience on the overall landscape of the ransomware threat and reasons it's proliferating at such a high pace.

FTC_Ransomware_play.png

As discussed in the panel, ransomware has proven to be a very lucrative form of cybercrime. Threat actors have gone from making a few dollars off each victim to a few hundred dollars.  The cybercriminals distributing ransomware appear to have a significant amount of resources and capabilities resulting in more sophisticated attacks. Consumers and businesses alike are in the crosshairs of the attack with millions at stake. Just as other forms of cybercrime have gone to the "as-a-service" model, so has ransomware which enables even the less sophisticated cybercriminals to take advantage.

"Most ransomware is delivered via a social engineering attack, often using a phishing campaign or some other vehicle that directs users to a malicious website," said Opacki during the overview. "Ransomware delivery through malicious advertisements is not uncommon or new and is popular because it takes advantage of the trust given to secure websites where the ad is delivered."

Watch the full recording here: https://www.ftc.gov/news-events/audio-video/video/fall-technology-series-ransomware-part-1

Ransomware is target agnostic - it is distributed without constraint, across all industries and geographic regions. Protect your employees from being the victim of a ransomware attack. Watch this on-demand webinar to learn more about recent trends in ransomware and how to fight back: https://info.phishlabs.com/spear_phishing_and_ransomware_samples_and_mitigation

Topics: Ransomware

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