Ransomware Gangs Are Losing Interest In American Businesses

As the United States loses its allure, ransomware operators focus on specific regions and industries.

According to a new NordLocker report, while companies in the United States remain the most popular target for ransomware gangs, other regions are becoming increasingly popular.

The researchers discovered that 876 ransomware attacks occurred in American businesses in 2022, down from 1,237 the previous year, by analyzing publicly available data on ransomware attacks that occurred between 2020 and 2023.

Finance firms are under attack

While it may appear that ransomware gangs are casting a wider net, they are focusing their efforts. Firms in 102 countries were targeted with ransomware in 2021, down from 91 countries the previous year.

There were also changes in the most commonly targeted industries. While manufacturing was the most popular industry in 2021, with 223 attacks, construction was the most popular last year, with 142 episodes.

Between 2021 and 2022, the global number of ransomware attacks fell from 2,702 to 2,257.

We’ve noticed that financial institutions are becoming increasingly concerned about their cybersecurity.” Companies are reporting an increase in cyberattacks in this sector,” says Aivaras Venceviius, NordLocker’s head of product.

The financial sector is quickly becoming the most vulnerable despite the focus on manufacturing and construction. In 2021, financial firms were the sixth most attacked sector, but by 2022, they had risen to second place.

LockBit was the most active ransomware group last year, with 723 attacks worldwide, dethroning the infamous Conti. Conti thought to be affiliated with Russia, was the most active group in 2021, with 445 attacks worldwide.

Ransomware gangs are losing interest in American businesses