Second highest ransomware profits expected this year

Ransomware operations are poised to achieve the second highest profits by year-end, with at least $449.1 million already extorted from attacks around the world during the first six months of 2023, reports The Record, a news site by cybersecurity firm Recorded Future. Elevated ransomware profits have been driven by the reemergence of attacks against large organizations, as well as persistent intrusions against smaller entities, according to a report from the Department of Homeland Security. Aside from adopting intermittent encryption to hasten systems encryption while bolstering stealth, ransomware groups targeting the U.S. have also been enhancing their financial extortion methods. Meanwhile, next year's presidential polls are expected to be targeted by Russian, Chinese, and Iranian state-sponsored threat groups, who are believed to potentially exploit artificial intelligence in their influence operations. AI use in malware and software development is also being explored by nation-states to launch more powerful attacks against U.S. critical infrastructure, said the report.