This was an increase of 105% of the number of ransomware attack notifications against Beazley PLC customers in the first quarter of the year, compared to the same quarter a year ago, the insurer said in a report issued Wednesday.
"Not only have the attacks increased, but attackers are shifting their focus, targeting larger organizations, and requiring higher password payments," reports Beazley Breach Insights.
The report says sophisticated attack groups associated with ransomware variants "target larger organizations through phishing emails and trick users into distributing bank trojans."
The report said the bank trojans were first designed to steal bank details from users of web banks. But with the latest variants such as Emotet and Trickbot, criminals "have also been able to harvest all types of account information".
"Newer types of banks in Trojans will also make reconnaissance on email accounts and distribute other malicious programs, usually ransomware on a system of relative ease."
The report said cybercriminals are exploiting the stolen references to "steal from financial accounts, deceiving by compromises with business, or committing identity theft. "
Companies that believe their system has been infected with a bank trojan should disconnect infected machines from their networks as soon as possible, reset passwords and warn employees to change passwords for all personal accounts that they can access through the machine and regularly train employees not to open unwanted attachments and links, among other actions, said Beazley in the report.