According to PhishMe, the exponential growth of ransomware may be turning this malware epidemic into the “largest crime wave in modern history.”

PhishMe predicts that this wave of ransomware is going to continue to grow partly because this malware is easily available, evolves quickly and has been proven effective and lucrative.

The company also predicts that in spite of the expectation that "adding layers of automated defense technologies will reduce the risk of falling victim to ransomware attacks.” The reality is that a simple phishing attack is enough to foil these best defenses.

Rohyt Belani, PhishMe CEO and co-founder, said: "The combination of cryptocurrency, an increase in world-wide data connectivity, poor backup procedures, and employees who are ill-equipped to help defend against phishing attacks has led to the perfect storm for ransomware to succeed. Ransomware attacks have the potential to become the biggest crime in digital history.”

Source: SCMagazine