752 percent increase in ransomware during 2016

Trend Micro Incorporated has released its annual security roundup report, which, like the Kaspersky report, shows that last year was quite the year for online extortion.

Tony Lee (pictured), a consultant at Trend Micro Hong Kong, said:

"As threats have diversified and grown in sophistication, cyber criminals have moved on from primarily targeting individuals to focussing on where the money is: enterprises. Throughout 2016 we witnessed threat actors extort companies and organisations for the sake of profitability and we don't anticipate this trend slowing down."

Acording to the cybersecurity company, cyber threats reached an all-time high in 2016, with ransomware and Business Email Compromise (BEC) scams gaining increased popularity among cybercriminals looking to extort enterprises. A 752 percent increase in new ransomware families ultimately resulted in $1 billion in losses for enterprises worldwide.