Data and credential theft malware were top two threats against small-and-medium sized businesses (SMBs) in 2023-24.
In 2023, nearly 50 per cent of malware detections for SMBs were keyloggers, spyware and stealers, malware that attackers use to steal data and credentials. Attackers subsequently use this stolen information to gain unauthorized remote access, extort victims, deploy ransomware, and more, revealed a latest report by Sophos.
The report also analyses initial access brokers (IABs)—criminals who specialize in breaking into computer networks. IABs are using the dark web to advertise their ability and services to break specifically into SMB networks or sell ready-to-go-access to SMBs they’ve already cracked.
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“The value of ‘data,’ as currency has increased exponentially among cybercriminals, and this is particularly true for SMBs, which tend to use one service or software application, per function, for their entire operation.
Ransomware top cyberthreat for SMBs
While the number of ransomware attacks against SMBs has stabilized, it continues to be the biggest cyberthreat to SMBs, revealed the report.
Ransomware operators continue to change ransomware tactics, according to the report. This includes leveraging remote encryption and targeting managed service providers (MSPs).
Between 2022 and 2023, the number of ransomware attacks that involved remote encryption—when attackers use an unmanaged device on organizations’ networks to encrypt files on other systems in the network—increased by about 62 per cent.
Attackers sharpen social engineering & BEC attacks
Following ransomware, business email compromise (BEC) attacks were the second highest type of attacks in 2023, highlighted the report.
These BEC attacks and other social engineering campaigns contain an increasing level of sophistication. Rather than simply sending an email with a malicious attachment, attackers are now more likely to engage with their targets by sending a series of conversational emails back and forth or even calling them.
In an attempt to evade detection by traditional spam prevention tools, attackers are now experimenting with new formats for their malicious content, embedding images that contain the malicious code or sending malicious attachments in OneNote or archive formats.
