A new report by cybersecurity firm Semperis reveals that ransomware gangs are increasingly launching attacks during weekends and holidays when organisations are less equipped to respond. The study found that 86 percent of ransomware incidents occurred during off-peak times as companies often scale back their security operations centre (SOC) staffing. While most organisations claim to run 24/7 SOCs, 85% admit to reducing staff by up to half on weekends and holidays, leaving critical systems more exposed. According to Dan Lattimer, an area vice president at Semperis, many organisations cannot afford the high cost of maintaining full SOC coverage each day. He noted, for example, that some organisations assume they are less exposed to risk during weekends because fewer employees are online to fall prey to phishing attacks. Others perceive their exposure being low because they have never had a threat in the past, further reducing the monitoring effort.
Why Cybercriminals Prefer Off-Peak Hours
Attackers leverage these openings to elevate the chances of their success. Performing attacks during weekends or holidays gives them a relatively longer timeframe to conduct an operation secretly so they can encrypt files and steal sensitive information with little hope of interfering soon. According to Lattimer, this tactic increases the chances of receiving ransom money because the organisations are willing to regain control at any critical downtime.
The report also showed that finance and manufacturing were among the most often targeted sectors, with 78 percent and 75 percent of organisations in the respective sectors reporting attacks on weekends or holidays. Furthermore, 63 percent of respondents said the ransomware related to major corporate events such as mergers or layoffs, which often cause additional diversion for IT teams.
Identity Security Lapses Continue
Another concerning result of the report is that too many companies feel too confident about their identity security. While 81% said to have sufficient defences against identity-related attacks, 83% experienced successful ransomware incidents in the past year. This discrepancy is largely due to lack of budget and resources to properly protect identity systems like AD, a part of core infrastructure.
Semperis noted that without proper funding for identity threat detection and response (ITDR), many organisations are leaving themselves open to attacks. Around 40% of companies either lacked the resources or were unsure about their ability to secure these systems.
Takeaway
SEMPERIS 2024 RANSOMWARE HOLIDAY RISK REPORT states that businesses must immediately address the vulnerability of weekends. Strengthening cybersecurity measures over holidays, investing in such robust identity protection, and maintaining consistent monitoring can help mitigate such growing risks for organisations. Cybercrime has become so dynamic, and hence organisations must adapt constantly to stay one step ahead.
