Europol says global ransomware attacks become “bolder”

Global ransomware attacks are becoming “bolder”, shifting focus on more profitable targets and causing greater economic damage, despite declining in volume, Europol said Wednesday.

“Ransomware maintains its reign as the most widespread and financially damaging form of cyber-attack,” said Catherine De Bolle, Europol’s Executive Director at the start of a three-day cybercrime conference jointly held by Europol and INTERPOL.

More than 400 experts from law enforcement, academia and the private sector from around 70 countries and regions gathered in The Hague to discuss cybercrime-related topics and future threats during the seventh Europol-INTERPOL Cybercrime Conference.

“Even though law enforcement has witnessed a decline in the overall volume of ransomware attacks, those that do take place are more targeted, more profitable and cause greater economic damage,”said the agency’s latest annual report assessing internet organized crime threats.