Foreign Cybercriminals Turn to Swatting to Force Payment

The weaponization of ‘swatting’ in ransomware attacks elevates cybercrime to a new level of urgency, demanding immediate action to protect lives from digital threats.

Cybercriminals utilize a variety of strategies to coerce organizations into paying ransoms in the aftermath of cyber incidents or data breaches. These strategies encompass threats of disclosing confidential data, which can potentially harm the reputation and operations of the targeted companies. Additionally, they engage with media outlets, amplifying the impact and visibility of the breach, thereby increasing the pressure on the victim organizations.

Direct contact with impacted customers is another tactic employed by these criminals. This approach is designed to create a heightened sense of urgency and fear, further compelling the victim companies to comply with the ransom demands. The end goal of these tactics is to manipulate the targeted organizations into a state of fear and urgency that compels them to meet the ransom demands.

In a recent intensification of their strategies, some ransomware groups have started to report organizations that refuse to comply with their demands to the US Securities and Exchange Commission. This is seen as a form of retaliation for non-payment.