PYMNTS.com August 20, 2024
In periods of softening consumer spend, businesses are increasingly turning to the vast B2B marketplace to boost their bottom-line.
They aren’t alone. Criminals have taken notice of the multi-trillion-dollar B2B landscape, too.
A recent report shows that cyber criminals are increasingly targeting businesses, not individuals, with ransomware attacks in the hopes of capturing a bigger payday.
Between early 2023 and mid-June 2024, ransomware inflows rose to a record-breaking $459.8 million, with the median ransom payment in these attacks leaping from about $200,000 to $1.5 million. Per the report, this spike in the value of ransom payments suggests that cybercriminals are “prioritizing targeting larger businesses and critical infrastructure providers that may be more likely to pay high ransoms due to their...
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