Supply chain vulnerabilities are facilitating a surge in ransomware
Nearly two-thirds of SMBs experienced ransomware through software supply chain partners
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Newresearchhas claimed nearly as much as two thirds (62%) of SMBs have been impacted by a ransomware attack that originated through software supply chain vulnerabilities.
The report from OpenText notes this is creating apprehension with businesses, as 90% plan to increase collaboration with software suppliers to try and bolster their security practices.
Weaknesses in supply chains are a significant worry for SMBs, with 91% of respondents concerned aboutransomware attackson their organization’s downstream software supply chain or third-party and connected partners - with nearly half (49%) concerned enough to consider vendor changes.
AI in ransomware
Ransomware remains a serious issue for businesses, with 48% of respondents experiencing an attack, and 73% of those being hit within the last year. This affects SMBs more than large enterprises, but only by a small margin, with 76% of SMBs experiencing a ransomware attack in the past year, versus 70% of large enterprises.
Recovery after an attack is a mixed bag. The positive news is that 97% of respondents successfully restored their company’s data, but 46% paid the ransom to do so.The average ransom is risingtoo, with 31% of those surveyed paying over $1 million.
Research suggests attacks have as much as doubled thanks to AI, and this is reflected in anxieties from SMBs. Over half of all respondents (55%) reported that their company is now more at risk of ransomware thanks to the increased use of AI by threat actors, and 45% have already seen an increase in phishing attacks thanks to AI.
AI is increasingly being used in both cyberattacks and cyberdefence - with the landscape rapidly evolving to accommodate new technologies.AI toolsare equipping cybercriminals with new capabilities and methods, making it more difficult for spam filters and antivirus to detect nefarious actors.
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Ellen has been writing for almost four years, with a focus on post-COVID policy whilst studying for BA Politics and International Relations at the University of Cardiff, followed by an MA in Political Communication. Before joining TechRadar Pro as a Junior Writer, she worked for Future Publishing’s MVC content team, working with merchants and retailers to upload content.
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