Tom Gorup, Vice President Security Services at Edgio

“The NCSC report findings come as no surprise. The growth in ransomware attacks is driven by a change in technique. In the past, attackers targeted comprised IoT devices, but now hackers are better resourced and can even buy and utilise cloud providers. Cybercriminals are using servers to run layer 7 or HTTP layer DDoS attacks, using compromised web applications to get a foot in the door. Then, they can move laterally, taking over servers, hijacking machines, and planting malware that is getting even more devious.  

“Moving forward, businesses should continue to ramp up defences against ransomware attacks that don’t just lock up data, but exfiltrates it and holds it ransom. Reputations are on the line even for reporting these events. Attackers are weaponizing the SEC to file formal complaints should a victim fail to report the event. They should also look to upskill employees in social engineering and spotting phishing attacks to reduce points of entry. 

“But even with these effective programs, exploitation of public-facing applications remains the top entry point (21.2%) for attackers according the Mandiants M-Trends report. Even though the attackers may have less low-hanging fruit, they continue to get creative — and with the ability to scan source code with AI, these threats will only increase further. On the other side of this coin, in 2024, we will start to see defensive solutions that leverage AI to nearly automate the entire process, from identification to bug-fix enabling businesses to keep in step with these actors.”

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