Resellers cite ransomware as top threat in CRN Security Summit

Ransomware is a big threat for most customers, resellers agree during session filmed for upcoming summit

Ransomware has been cited by resellers as one of the biggest threats facing their customers this year.

Attendees of a panel debate for the European Security Summit, which will be screened next week, picked out ransomware attacks as one of their biggest causes for concern as they discussed the future of the security market.

Their warnings came as multiple vendors including Trustwave and Fortinet warned of a spike in infections from the latest strain of Ransomware, dubbed Locky.

"We still believe Ransomware is going to play a big part for a lot of our customers this year," Mark Evans, UK country manager of security VAR Integrity360, said during the session.

He added: "Ransomware has been around for some time but now it is becoming wider and more available to a new level of wannabe hackers who are evolving it into slightly different variations of the same technology. And these are getting through to numerous organisations we deal with - it is a big threat for most customers."

James Miller, managing director at Foursys, also saw ransomware as a big threat.

"It's all about these organisations looking to generate cash as quickly as possible," he said. "That means they generate these pieces of ransomware at a prolific rate and it's very difficult for anti-virus vendors to keep up with the number of different variants coming around."

According to Fortinet, Locky already accounts for 16.47 per cent of ransomware infections in its two weeks of existence, behind only Cryptowall.

Recent research from the Cloud Security Alliance found that 14 per cent of execs would stump up $1m to prevent a cyberattack.

The European Security Summit, run by CRN and its sister publication Channelnomics Europe, is being screened on 17 March.