GCHQ Boss Says Ransomware Attacks Have Doubled In A Year

Jeremy Fleming, the Director of GCHQ, has said that the number of ransomware attacks on British organisations has doubled in the past 12 months. He also said that these attacks have become increasingly popular among criminals because it was “largely uncontested” and highly profitable for them.

He made his statement on the second day of the Cipher Brief Annual Threat Conference in Sea Island Georgia on October 25th, follow warnings that Russia and China are harbouring criminal gangs that are successfully targeting western governments or firms. 

Ransomware is malware that employs encryption to hold a victim’s information at ransom. Critical data is encrypted so that the organisation cannot access files, databases, or applications. A ransom is then demanded to provide access. It has been used as part of a number of high-profile cyber-attacks in recent years, including the 2017 attack on the NHS and this year of the health service in Ireland

Hackers are using software to lock files on computers before stopping victims from accessing their own data, essentially holding it hostage and demanding money from them. Once they have received ransomware payment, the hackers can then give a decryption key back to the victim so they can regain access. “I think that the reason ransomware is proliferating, we’ve seen twice as many attacks this year as last year in the UK, is because it works. It just pays. Criminals are making very good money from it and are often feeling that that’s largely uncontested,” he told delegates.

GCHQ has declined to give the exact numbers of ransomware attacks recorded in the UK this year or last. However, a recent US Treasury Report disclosed that suspicious ransomware-related transactions in the US over the first six months of this year were worth around $590m. The top 10 hacking groups believed to be behind criminal activity had moved about $5.2bn worth of bitcoin over the past three years, the report said.

Amid growing concerns over China and Russia’s ties to ransomware gangs, Fleming also called for more clarity over the links between criminals and hostile states. “In the shorter term we’ve got to sort out ransomware, and that is no mean feat in itself. We have to be clear on the red lines and behaviours that we want to see, we’ve got to go after those links between criminal actors and state actors”.

“We’ve got to go after those links between criminal actors and state actors, and impose costs where we see that, and beyond that I think we’ve got to make sure that we are doing all we can to de-simplify this and to take as much out of it of the hands of citizens as we can so that they can enjoy living in a safe and secure online world,” Fleming said. He said that it is not “rocket science” to “defend against this sort of stuff...  Back up your data, make sure you’ve got your admin right, sorted out, make sure your passwords are properly protected, work out where your thresholds are, have thought in advance how you would respond if you were approached for ransom, all those sorts of things, it’s just basic stuff,” he said.

Security specialists believe Russian ransomware will continue to expand given the proliferation of cyber hacking tools and crypto-currency payment channels. 

  • In May this year, the then foreign secretary, Dominic Raab, said states such as Russia could not “wave their hands” and say ransomware gangs operating from their territory had nothing to do with them.

Since then, Western nations has sought to increase pressure on Russia. President Biden has raised these issues with Vladimir Putin over the summer and he hinted that the US would be prepared to attack computer servers belonging to the gangs if nothing was done.   

The Cipher Brief:    Standard:    NMAP:      Belfast Telegraph:    Guardian:    Daily Echo:    Verve Times:   

You Might Also Read: 

Cyber Attacks Are The New Cold War:

 

« Facebook Is 'making hate worse'
British Spies Trust Amazon With Their Secrets »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

Perimeter 81 / How to Select the Right ZTNA Solution

Perimeter 81 / How to Select the Right ZTNA Solution

Gartner insights into How to Select the Right ZTNA offering. Download this FREE report for a limited time only.

IT Governance

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

NordLayer

NordLayer

NordLayer is an adaptive network access security solution for modern businesses — from the world’s most trusted cybersecurity brand, Nord Security. 

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

NSFOCUS Information Technology

NSFOCUS Information Technology

NSFOCUS is a global service provider and enterprise DDoS mitigation solution provider.

Research Institute in Science of Cyber Security (RISCS)

Research Institute in Science of Cyber Security (RISCS)

RISCS is focused on giving organisations more evidence, to allow them to make better decisions, aiding to the development of cybersecurity as a science.

General Dynamics Information Technology

General Dynamics Information Technology

General Dynamics IT delivers cyber security services to defend critical information and infrastructure.

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

maCERT

maCERT

maCERT is the national Computer Emergency Response Team for Morocco.

Advanced Software Products Group (ASPG)

Advanced Software Products Group (ASPG)

ASPG offers a wide range of innovative mainframe software solutions for Data Security, Access Management, System Management and CICS productivity.

Ksmartech

Ksmartech

Ksmartech provide services related to security and authentication in all areas where the connection of people to objects, and objects and objects is necessary.

ColorTokens

ColorTokens

ColorTokens Xtended ZeroTrust Platform protects from the inside out with unified visibility, micro-segmentation, zero-trust network access, cloud workload and endpoint protection.

Industrial Defender

Industrial Defender

Committed to ICS Cybersecurity. Industrial Defender provides a fully automated solution to discover, track and report on assets across your ICS footprint.

SignalSEC

SignalSEC

SignalSEC provides vulnerability intelligence, malware analysis, penetration testing and associated training services.

Allied Telesis

Allied Telesis

Allied Telesis delivers the secure, flexible, and agile solutions needed to meet the expectations of any industry’s critical mission.

Hybrid Identity Protection Conference (HIP)

Hybrid Identity Protection Conference (HIP)

Hybrid Identity Protection (HIP) is the premier educational forum for identity-centric cybersecurity practitioners charged with defending hybrid cloud environments.

Grant Thornton

Grant Thornton

Grant Thornton is one of the world’s leading networks of independent assurance, tax and advisory firms.

Credible Digital Security Pvt. Ltd. (CDSPL)

Credible Digital Security Pvt. Ltd. (CDSPL)

CDSPL is an innovative Cyber Security Services Company in India. We are committed to offering cyber security solutions for important sectors such as energy and utilities, healthcare, and more.

Threatsys Technologies

Threatsys Technologies

Threatsys’s Integrated cyber security process helps your organizations to ensure that it’s secure from any fraudulent attacks.

Total Secure Technology

Total Secure Technology

Total Secure Technology provides trusted Managed IT Security and Managed IT Services for organizations looking to increase their cybersecurity defensive posture.