The Defender's Advantage Podcast
Assessing the State of Multifaceted Extortion Operations
Apr 11, 2024
Kimberly Goody leads Mandiant's Cyber Crime Analysis team, specializing in ransomware, while Jeremy Kennelly is a lead analyst with expertise in data theft. They dive deep into the evolution of multifaceted extortion, revealing a sharp rise in ransomware payments, with averages exceeding $1 million. They discuss why manufacturing and small enterprises are increasingly targeted due to limited security and assess the healthcare sector's vulnerabilities. Notably, they highlight shifts in tactics used by attackers, emphasizing a troubling trend in exploit-based operations.
40:54
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Quick takeaways
- In 2023, ransomware payments reached historic highs, indicating threat actors are diversifying tactics by leveraging data theft alongside direct attacks.
- Geopolitical events have significantly reshaped the cybercrime landscape, pushing criminal groups to adapt operations and exploit vulnerabilities amidst global tensions.
Deep dives
Rise of Multifaceted Extortion
The discussion emphasizes the increasing prevalence of multifaceted extortion methods, moving beyond traditional ransomware alone. In 2023, the extortion landscape was marked by a significant rise in both ransomware payments and the number of victims as recorded on data leak sites. The analysis indicated that ransom payments reached historic highs, with a notable portion exceeding $1 million. This trend reveals how threat actors are diversifying their tactics to maximize earnings by leveraging both direct ransomware attacks and data theft for additional leverage.
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