According to a recent report from specialist insurer Beazley, ransomware scams increased by 25% in the first quarter of 2020.
Manufacturing was easily the hardest-hit sector, registering a 156% increase during this time.
These numbers are based on incidents reported to the company’s in-house breach response team, Beazley Breach Response (BBR) Services.
Other, heavily affected sectors are financial services and healthcare.
These attacks not only impact the targeted company, but their clients, suppliers and support organizations like banks and insurance providers.
Phishing attacks have also soared during the COVID lockdown, as cyber criminals try to take advantage of more online activity as a way to steal personal information through fake emails and texts.
Katherine Keefe, head of BBR Services, states: “Cyber criminals are preying on people’s heightened anxiety … tricking them into clicking and sharing links that steal information. Also, those working from home may have weaker IT security than corporate networks."