Ransomware gangs shift focus to big businesses
Research shows that criminals are going after more banks and corporations


Ransomware gangs are starting to shift their focus from wide-ranging campaigns to targeted attacks on large companies and banks, according to new research.
Rather than simply attempting to spread their ransomware to as many users as possible, Kaspersky Lab's annual ransomware report has revealed that cyber criminals are making a concerted effort to target big businesses.
The security firm has identified eight separate criminal groups that are targeting financial institutions and major corporations, including the Mamba group. These gangs pick their targets carefully, identify business-critical resources and wait patiently while the malware spreads, with some samples proliferating through an organisation for up to six months.
"The reason for the trend is clear," the report said; "criminals consider targeted ransomware attacks against businesses potentially more profitable than mass attacks against private users."
This tactic evidently had some merit - Kaspersky observed cases where criminals were asking for $1,000 in Bitcoin to decrypt each individual endpoint, as well as cases where the total ransomware demands for a company's infection came to over half a million dollars.
Another emerging trend the report highlighted was cyber criminals stealing each others' work. Despite the creators of the Petya ransomware building in anti-theft measures designed to prevent other hackers using it for their own ends without permission, a new strain was discovered to be doing just that.
The PetrWrap ransomware, which was discovered in March of this year, uses the Petya encryption algorithm to lock its victims files - but uses its own decryption keys, meaning that the gang behind it don't need the original authors to decrypt the files after the ransom is paid. Researchers are taking this as evidence that increased competition in the ransomware space is causing some criminals to start fighting amongst themselves for market share.
Get the ITPro daily newsletter
Sign up today and you will receive a free copy of our Future Focus 2025 report - the leading guidance on AI, cybersecurity and other IT challenges as per 700+ senior executives
"Theoretically, this is good, because the more time criminal actors spend on fighting and fooling each other, the less organised and effective their malicious campaigns will be," the report said.
"The worrying thing here is the fact that PetrWrap is used in targeted attacks. This is not the first case of targeted ransomware attacks and unfortunately is unlikely to be the last."
Ilia Kolochenko, CEO of web security firm High-Tech Bridge, agreed that cyber crime gangs are starting to wise up and pursue more profitable targets. "The report is a clear indicator that the ransomware market is becoming more professional and mature," he said. "Actors are working on various niche specialisations to avoid direct competition and maximise their profit."
Adam Shepherd has been a technology journalist since 2015, covering everything from cloud storage and security, to smartphones and servers. Over the course of his career, he’s seen the spread of 5G, the growing ubiquity of wireless devices, and the start of the connected revolution. He’s also been to more trade shows and technology conferences than he cares to count.
Adam is an avid follower of the latest hardware innovations, and he is never happier than when tinkering with complex network configurations, or exploring a new Linux distro. He was also previously a co-host on the ITPro Podcast, where he was often found ranting about his love of strange gadgets, his disdain for Windows Mobile, and everything in between.
You can find Adam tweeting about enterprise technology (or more often bad jokes) @AdamShepherUK.
-
RSA Day One: Vibe Is 'All In' on AI for Security
News Artificial intelligence took center stage as RSA looks at how the discussion has moved from generative AI to agentic AI
By Scott Bekker
-
RSAC Conference 2025 live: All the latest news and updates
Live blog Follow all the latest from RSAC Conference 2025 in our live coverage
By Rory Bathgate
-
Ransomware attacks are rising — but quiet payouts could mean there's more than actually reported
News Ransomware attacks continue to climb, but they may be even higher than official figures show as companies choose to quietly pay to make such incidents go away.
By Nicole Kobie
-
Cleo attack victim list grows as Hertz confirms customer data stolen – and security experts say it won't be the last
News Hertz has confirmed it suffered a data breach as a result of the Cleo zero-day vulnerability in late 2024, with the car rental giant warning that customer data was stolen.
By Ross Kelly
-
‘Phishing kits are a force multiplier': Cheap cyber crime kits can be bought on the dark web for less than $25 – and experts warn it’s lowering the barrier of entry for amateur hackers
News Research from NordVPN shows phishing kits are now widely available on the dark web and via messaging apps like Telegram, and are often selling for less than $25.
By Emma Woollacott
-
Healthcare systems are rife with exploits — and ransomware gangs have noticed
News Nearly nine-in-ten healthcare organizations have medical devices that are vulnerable to exploits, and ransomware groups are taking notice.
By Nicole Kobie
-
Alleged LockBit developer extradited to the US
News A Russian-Israeli man has been extradited to the US amid accusations of being a key LockBit ransomware developer.
By Emma Woollacott
-
February was the worst month on record for ransomware attacks – and one threat group had a field day
News February 2025 was the worst month on record for the number of ransomware attacks, according to new research from Bitdefender.
By Emma Woollacott
-
CISA issues warning over Medusa ransomware after 300 victims from critical sectors impacted
News The Medusa ransomware as a Service operation compromised twice as many organizations at the start of 2025 compared to 2024
By Solomon Klappholz
-
Warning issued over prolific 'Ghost' ransomware group
News The Ghost ransomware group is known to act fast and exploit vulnerabilities in public-facing appliances
By Solomon Klappholz