The rise in cyber extortion attacks and its impact on business security

In this Help Net Security video, Charl van der Walt, Head of Security Research at Orange Cyberdefense, discusses cyber extortion attacks and their expansion to new regions.

A recent report revealed that cyber extortion activity reached the highest volume ever recorded in Q1 2023 after a decline of 8% in 2022. These figures were gathered through data from 6,707 confirmed business victims.

As a result of consistently high-impact attacks, governments worldwide are starting to take more action. Some forbid companies operating within their country to pay a ransom when demanded.