Ransomware threat on rise globally, says Symantec

Given the popularity of smartphones, a number of Android threats have emerged in recent years, the majority of which are locker-type threats. As yet, there have been no documented cases of iOS ransomware.

Further, the growth of the Internet of Things (IoT) also has multiplied the range of devices that could potentially be infected with ransomware.

With a growing awareness of ransomware affecting traditional computers, attackers may turn to IoT to find new, softer targets, the report added.

According to Symantec, 2015 was a record year with 100 new ransomware families discovered. All but one of the new variants discovered so far in 2016 are crypto-ransomware, which uses unbreakable encryption on the user’s files. If the victim has no back-ups, paying ransom is the only alternative.

Symantec’s blog adds, “While the majority of victims (57 percent) continue to be consumers, the long term trend indicates a slow but steady increase in ransomware attacks aimed at organisations rather than individuals.”

In terms of individual sectors, the services sector was more affected (38 per cent) followed by manufacturing (17 per cent) followed by Finance, Insurance and Real Estate, and Public Administration.