Financial services targeted most by cloud cyber incidents

Financial services were targeted the most among reported cloud ransomware incidents in the second quarter of the year, according to McAfee Enterprise’s latest Advanced Threat Search Report.

The sector was followed by healthcare, manufacturing, retail, and professional services.

Financial Services were targeted in 50 per cent of the top 10 cloud incidents, including incidents in the United States, Singapore, China, France, Canada, and Australia.

“Ransomware has evolved far beyond its origins, and cybercriminals have become smarter and quicker to pivot their tactics alongside a whole host of new bad-actor schemes,” said Raj Samani, McAfee Enterprise fellow and chief scientist. “Names such as REvil, Ryuk, Babuk, and DarkSide have permeated into public consciousness, linked to disruptions of critical services worldwide.

“And with good measure, since the cybercriminals behind these groups, as well as others, have been successful at extorting millions of dollars for their personal gain.”

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