Security News > 2021 > January > How asset management companies are vulnerable to ransomware and phishing attacks
Asset and wealth management companies play an important role in handling finances and investments for different clients throughout the world.
A report released Thursday by digital risk company Digital Shadows examines why and how AWM companies are vulnerable to cyberattack and how they can defend themselves.
In the fourth quarter of 2020, data from AWM companies was discovered leaked on public sites run by the Sodinokibi and NetWalker ransomware gangs.
Looking ahead, Digital Shadows said it believes that ransomware demands will rise as a greater number of large companies are targeted.
AWM companies should be on the lookout for attackers targeting their remote workers with dedicated phishing campaigns.
Ransomware attacks typically start by sending malicious attachments in phishing emails or targeting accounts that use remote desktop protocol.
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