Ransomware attacks on the rise, IIROC warns. “Prevention is the best approach to dealing with the issue, regulators say.”

“In a notice to the industry, the self-regulatory organization said that it has seen an increase in cyber attacks targeting IIROC firms with malware that infects and encrypts devices and demands a ransom for the return of the locked data. 

“Ransomware is the most common type of cybercrime and continues to evolve,” IIROC said in the notice, calling the phenomenon a “critical threat” and outlining what firms and employees should do to address the risk. Ransomware attacks are being launched through a variety of methods, the notice said, including phishing expeditions, infected websites and ads, stolen credentials and “brute-force entry,” among other means.”


A Man Is Analyzing the Rising Ransomware Attacks