In the past 12 months, cyber-security researchers at Barracuda Networks identified and analysed 106 highly publicised ransomware attacks.
They found the dominant targets are still five key industries: education, municipalities, healthcare, infrastructure and finance.
Researchers also saw a spike in the number of service providers that have been hit with a ransomware attack.
“Ransomware attackers remain defiant and continue to operate their business with extended extortion attempts. As ransomware and other cyber threats continue to evolve, the need for adequate security solutions has never been greater,” said Parag Khurana, Country Manager, Barracuda Networks India.
While attacks on municipalities increased only slightly, the analysis showed that ransomware attacks on educational institutions more than doubled, and attacks on the healthcare and financial verticals tripled.
Many cybercriminals target small businesses to gain access to larger organisations. As a result, it is essential for security providers to create products that are easy to use and implement, regardless of a company’s size, said the report.
Most ransomware attacks don’t make headlines, though.
Many victims choose not to disclose when they get hit, and the attacks are often sophisticated and extremely hard to handle for small businesses, said the report.