NEWS
Barracuda threat report reveals spike in ransomware to more than 1.2 million per month
Barracuda , a trusted partner and leading provider of cloud-first security solutions , has released its Fourth-Annual Threat Research Report on Ransomware .
The new report looks at ransomware attack patterns that occurred between August 2021 and July 2022 .
For the 106 highly publicized attacks Barracuda researchers analyzed , the dominant targets are still five key industries : education ( 15 %), municipalities ( 12 %), healthcare ( 12 %), infrastructure ( 8 %) and financial ( 6 %):
• The number of ransomware attacks increased year-over-year across each of these five industry verticals and attacks against other industries more than doubled compared to last year ’ s report .
• While attacks on municipalities increased only slightly , Barracuda analysis over the past 12 months showed that ransomware attacks on educational institutions more than doubled and attacks on the healthcare and financial verticals tripled .
• This year , Barracuda researchers dug in deeper on these highly publicized attacks to see which other industries are starting to be targeted . Service providers were hit the most and ransomware attacks on automobile , hospitality , media , retail , software and technology organizations all increased as well .
Many victims choose not to disclose when they get hit and the attacks are often sophisticated and extremely hard to handle for small businesses .
The report details three examples that researchers have seen through Barracuda SOC-as-a-Service , the anatomy of each attack and the solutions that can help stop these attacks .
Suryoday Small Finance Bank implements Infosys Finacle
Infosys Finacle , part of EdgeVerve Systems – a wholly-owned subsidiary of Infosys – and Suryoday Small Finance Bank ( SSFB ) have announced the successful implementation of the Finacle Core Banking Platform and Finacle Treasury Platform .
Finacle will now power SSFB ’ s retail , corporate and payment engines in an on-premises model , supported by IBM ’ s infrastructure stack .
SSFB is one of India ’ s leading small finance banks that caters to over 1.9 million customers through its 565 branches and with Finacle ’ s digital banking platform , the bank is well placed to achieve its vision of creating a ‘ new age bank ’. This vision is designed to help SSFB deliver on its primary commitment of financial inclusion .
“ Upgrading to a modern digital banking platform like Infosys Finacle is a big move for
Suryoday Small Finance Bank and one that will help us achieve our dream of becoming a new age bank , much faster ,” said Baskar Babu Ramachandran , Managing Director and Chief Executive Officer , Suryoday Small Finance Bank .
“ With a sharp focus anchored on customercentricity and experience , the Finacle platform will further power our growth plans and help enlarge our operations , while ensuring significantly lower operating costs and superior customer service .”
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