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Ransomware attacks on municipal institutions rise by over 60 per cent worldwide: research

December 25, 2019 / The Asian Age

Cyber security firm Kaspersky’s researchers have finally released their annual security bulletin titled ‘Story of the Year 2019’. In the report the researchers focused on the rising trends in Ransomware, particularly worrying in their increasing attacks on municipal institutions.The firm observed that at least 174 municipal institutions, with more than 3,000 subset organizations, have been targeted by ransomware during the last year. This represented a 60 per cent increase at least, from the figure in 2018. Judging by publicly available information, the ransom amounts varied greatly, reaching up to 53,00,000 USD and 10,32,460 USD on average. However, they also said that the the final costs of an attack are much more, as the long-term consequences and damages from the attach are estimated to be larger.