Who are Lockbit 3.0?

The dark-web operating group, Lockbit (also known as Bitwise Spider) have been one of this year’s most notorious ransomware groups. The group has targeted a number of businesses all over the world, and claimed ownership of several ransomware attacks.

The infamous ransomware gang has claimed to have stolen 78GB of data from an Italian tax agency in July this year, threatening to leak this stolen data if a ransom isn’t paid by the end of the month.

Moreover, Lockbit has shared an ever-growing list of victims on their dark-web site who they have allegedly launched a successful ransomware attack on, stealing all kinds of data from confidential documents to financial reports and contracts.

Lockbit has been operating since 2019, and only recently made headlines in June 2022 after their new launch of Lockbit 3.0 (also known as Lockbit Black).

This new ransomware program is designed to encrypt and exfiltrate all present files on a device that they have infected, allowing cyber attackers to lock and store the victim’s data until a ransom is paid.

Therefore Lockbit 3.0 has been causing a lot of panic amongst businesses and it’s no surprise. In August alone, this new ransomware program accounted for 40% of ransomware incidents.

Ransomware attacks continue to be on the rise

Year on year we continue to see an increase and persistence of cyber threats on businesses.

Verizon, a telecommunications company in the US, has concluded that 82% of cyber breaches are down to human errors.

Organisations like Lockbit prey on and target vulnerable users with limited cyber security knowledge who are likely to fall for their tricks and breach attempts.

However, despite ransomware attacks continually being on the rise, businesses are still not taking the necessary precautions to minimise the risk of these sorts of cyber attacks.

One of the most effective ways to combat ransomware is through employee cyber security training.

The Power of Cyber Security Training

In order to minimise the imminent threat of cyber attacks, businesses and organisations need to start concentrating on the core internal issue that directly leads to the success of these cyber attacks.

With regular cyber security training, you are actively helping to minimise the risk of your business falling victim to a cyber attack, losing money, and damaging your brand’s reputation.

These sessions are essential and key to educating your employees on what good cyber security practices are, what they look like, and how to apply them to everyday tasks.

At Solutions4IT, part of our cyber security training package involves a simulation of a phishing attacks on your employees to see if they can successfully identify them.

If you would like to learn more, please visit our cyber security training page here.