Treasury Fraud & Controls, Part 2: Payoff Size of Fraud Points Explains Continued Escalation of Attacks

Treasury Fraud & Controls, Part 2: Payoff Size of Fraud Points Explains Continued Escalation of Attacks

by | Mar 18, 2020 | Blogs

In the final quarter of 2018, the average payoff amount for retrieving files encrypted in ransomware attacks was holding steady around $10,000. Early in 2019, the number began to rise, and only six months later it had quadrupled at $40,000. In 2019’s final quarter, the average amount was $84,116, and as if to warn that this number wasn’t going to drop anytime soon, the month of December saw the average rise to an unprecedented and shocking $190,000.

Treasury Fraud & Controls, Part 2: Payoff Size of Fraud Points Explains Continued Escalation of Attacks

Treasury Fraud & Controls, Part 1: Increased Success Rates and Sophistication Raise Threat Level

by | Mar 11, 2020 | Blogs

Much as we all wish they would, cyber criminals are not sitting on their hands. While these groups and individuals are anything but admirable, we could stand to learn a few things from them in terms of creative innovation, adaptability, persistence, and patient commitment to goals. Our posture, while defensive, must be no less active and intentional than theirs, or we will inevitably fall behind and leave our organizations open to attack.