E-Business
Kaspersky Reports Show Every Third Cyber Incident was Due to Ransomware
Ahead of International Anti-Ransomware Day on May 12, Kaspersky’s latest research reveals a concerning trend in the global cybersecurity landscape, with ransomware attacks accounting for every third cyber incident in 2023.
The report sheds light on the escalating threat of targeted ransomware groups, which have seen a Kaspersky30% increase globally compared to 2022, along with a 71% surge in known victims.
Kaspersky’s research, covering 2022 and 2023, revealed a worrisome escalation in targeted ransomware groups. The data indicated a staggering 30% global increase in the number of these groups compared to 2022, accompanied by a 71% surge in known victims of their attacks.
Unlike random assaults, these targeted groups set their sights on government agencies, prominent organisations, and specific individuals within enterprises. As cybercriminals continue to orchestrate sophisticated and extensive attacks, the threat to cybersecurity grows ever more pronounced.
In 2023, Lockbit 3.0 emerged as the most prevalent ransomware, leveraging a builder leak in 2022 to spawn custom variants targeting organisations worldwide. BlackCat/ALPHV ranked second, until December 2023, when a collaborative effort by the FBI and other agencies disrupted its operations.
However, BlackCat quickly rebounded, underscoring the resilience of ransomware groups. Third on the list was Cl0p, which breached the managed file transfer system MOVEIt, impacting over 2.5 thousand organisations by December 2023, according to New Zealand security firm Emsisoft.
In its 2023 State of Ransomware report, Kaspersky also identified several noteworthy ransomware families, including BlackHunt, Rhysida, Akira, Mallox, and 3AM. Moreover, as the ransomware landscape evolves, smaller, more elusive groups are emerging, posing new challenges to law enforcement.
According to the research, the rise of Ransomware-as-a-Service (RaaS) platforms further complicated the cybersecurity landscape, emphasising the need for proactive measures.
Kaspersky’s incident response team noted that ransomware incidents accounted for every third cybersecurity incident in 2023. In the research, attacks via contractors and service providers emerged as prominent vectors, facilitating large-scale assaults with alarming efficiency.
Overall, ransomware groups demonstrated a sophisticated understanding of network vulnerabilities, utilising a variety of tools and techniques to achieve their objectives.
They used well-known security tools, and exploited public-facing vulnerabilities and native Windows commands to infiltrate their victims, highlighting the need for robust cybersecurity measures to defend against ransomware attacks and domain takeovers.
“As ransomware-as-a-service proliferates and cybercriminals execute increasingly sophisticated assaults, the threat to cybersecurity becomes more acute. Ransomware strikes persist as a formidable menace, infiltrating critical sectors and preying on small businesses indiscriminately.
“To combat this pervasive threat, it’s imperative for individuals and organisations to fortify their defenses with robust cybersecurity measures. Deploying solutions such as Kaspersky Endpoint Security and embracing Managed Detection and Response (MDR) capabilities are pivotal steps in safeguarding against evolving ransomware threats,” commented Dmitry Galov, head of research center, Kaspersky’s GReAT.
Transcorp Hotels Plc has delivered a stellar performance in the first half of 2025, recording a 60% year-on-year surge in revenue to ₦47.57 billion, up from ₦29.72 billion in H1 2024. Gross profit climbed 71% to ₦36.21 billion, maintaining a strong 76% margin despite inflation and operational headwinds.
The hospitality giant, a subsidiary of Transnational Corporation Plc, also announced an interim dividend payout of ₦1.024 billion — offering ₦0.10 per 50 kobo ordinary share to shareholders.
In a bold move, the company unveiled Nigeria’s largest corporate venue — the 5,000-seat Transcorp Centre — staking its claim as the new leader in event hospitality. Chairman Emmanuel Nnorom described the results as proof of Transcorp Hotels’ transformative strategies and unwavering investor commitment. MD/CEO Uzo Oshogwe attributed the success to relentless execution and a resilient business model.
Transcorp Hotels, renowned for iconic assets like Transcorp Hilton Abuja and its digital platform Aura, says it isn’t just leading Nigeria’s hospitality sector — it’s redefining excellence across Africa.
Chinese “threat actors” have hacked Microsoft’s SharePoint document software servers and targeted the data of the businesses using it, the firm has said.
China state-backed Linen Typhoon and Violet Typhoon as well as China-based Storm-2603 were said to have “exploited vulnerabilities” in on-premises SharePoint servers, the kind used by firms, but not in its cloud-based service.
The US tech giant has released security updates in response and has advised all on-premises SharePoint server customers to install them.
“Investigations into other actors also using these exploits are still ongoing,” Microsoft said in a statement.
The firm said it had “high confidence” the hackers would continue to target systems which have not installed its security updates.
It added that it would update its website blog with more information as its investigation continues.
Microsoft said it had observed attacks in which hackers had sent a request to a SharePoint server “enabling the theft of the key material by threat actors”.
Charles Carmakal, chief technology officer at Mandiant Consulting firm, a division of Google Cloud, told reporter, it was “aware of several victims in several different sectors across a number of global geographies”.
Carmakal said it appeared that governments and businesses that use SharePoint on their sites were the primary target.
A number of adversaries who stole material encoded by cryptography were then able to regain ongoing access to the victims’ SharePoint data, he said.
“This was exploited in a very broad way, very opportunistically before a patch was made available. That’s why this is significant,” Carmakal said.
Carmakal said the “China-nexus actor” was deploying techniques similar to previous campaigns associated with Beijing.
Microsoft said Linen Typhoon had “focused on stealing intellectual property, primarily targeting organizations related to government, defence, strategic planning, and human rights” for 13 years.
It added that Violet Typhoon had been “dedicated to espionage”, primarily targeting former government and military staff, non-governmental organizations, think tanks, higher education, the media, the financial sector and the health sector in the US, Europe, and East Asia.
Meanwhile, Storm-2603 was “assessed with medium confidence to be a China-based threat actor”.
National Identity Management Commission (NIMC) has issued a public warning that it is not associated with NINcard.com.
According to the commission, the website has been circulating online to offer services for Nigerians seeking National Identification Number (NIN) services.
NIMC, in a post on its official X account on Wednesday, said, “NINcard.com is not in anyway affiliated to NIMC. Stay vigilant!”
The warning was accompanied by screenshots of fake payment receipts and OTP request pages from the website, both of which were boldly stamped “FAKE” by NIMC to alert the public.
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