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e-Crime is the top threat businesses are facing

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A new report from security firm CrowdStrike suggests cybercrime, in all its shapes and sizes, is growing and thriving.

The report noted that ransomware in particular is evolving rapidly. Previously, criminals would simply encrypt data on a target device or network, and demand ransom in bitcoin. Now, attackers first exfiltrate as much data as possible, in case the company has a backup or other ways of circumventing ransomware.

CrowdStrike also claims malware-free tactics are on the rise. These types of attacks surpassed the volume of malware attacks last year, growing from 40 percent in 2018 to 51 percent.

The report goes on to suggest nation-state actors “continued unabated throughout 2019”. Telecoms firms were a particularly attractive target for Chinese and North Korean attackers.

To combat these threats, CrowdStrike suggests businesses should follow the “1-10-60” rule: detect an intrusion within a minute, investigate in 10 and eliminate it in 60.

"It’s imperative that modern organisations employ a sophisticated security strategy that includes better detection and response and 24/7/365 managed threat hunting to pinpoint incidents and mitigate risks,” said Jennifer Ayers, Vice President of OverWatch at CrowdStrike.