Ransomware has posed serious risks for businesses in Bangladesh, according to the latest report of cyber security company Kaspersky.

The digital privacy company detected and blocked a total of 34,607 ransomware incidents through its cybersecurity solutions for businesses in Bangladesh from January to December 2023, says a press release.

Experts from the global cybersecurity company insist on organisations, regardless of shape and size, to beef up their IT security posture as ransomware, especially the targeted type, continues to be a damaging menace for organisations in the region.

Kaspersky lead malware analyst Fedor Sinitsyn said that the era of widespread mass attacks by encryptors on both individuals and businesses is gradually fading away.

“Instead, we are witnessing a shift towards organised groups that execute hacks involving data theft and encryption, commonly referred to as double extortion.”

“The rationale behind this evolution lies in the perpetrators' ability to operate with greater efficiency,” he said.

Ransomware became a constant subject of news headlines in Bangladesh.