Munich (dpa) - Allianz expects a worrying increase in cyber attacks worldwide this year, especially those using blackmail software. According to a study published on Wednesday by Allianz Commercial, the insurance group's industry division, personal or sensitive business data is now in most cases stolen for the purpose of blackmail with the help of so-called ransomware. This increases the cost and complexity of the incidents and increases the potential for reputational damage.

According to Allianz, the number of ransomware attacks increased by half in the first half of 2023 alone. The insurer analyzed major cyber losses in detail for the "Cyber Security Trends 2023" study: According to this, the number of cases in which data is leaked has been rising for years - from 40 percent in 2019 to almost 80 percent in 2022. This year, the figure will be significantly higher still, it says. Absolute case numbers are not mentioned in the study.

Allianz's analysis is in line with the findings of the German Federal Office for Information Security (BSI). "Cyber attacks with ransomware continue to pose the greatest threat to companies and organizations," warned BSI Vice President Gerhard Schabhüser recently.

Many companies are trying to buy their way out by paying the ransom demanded. In its study, Allianz refers to figures from the American analysis company Chainalysis. According to these figures, ransomware victims worldwide paid almost 450 million US dollars to cyber criminals in the first six months of this year. This half-year figure is almost equal to the 500 million dollars paid in the entire previous year. Chainalysis specializes primarily in the analysis of blockchain databases of cryptocurrencies such as Bitcoin, in which transactions can be traced publicly.

"Ransomware groups are constantly adapting their tactics and business models in response to changes in cyber security," said Michael Daum, Global Head of Cyber Claims at Allianz Commercial. Cyber criminals do not have to develop the blackmail software themselves, but can rent the attack tools on the darknet. This phenomenon of ransomware-as-a-service is still one of the main reasons for the frequency of attacks. "Double and triple extortion attacks are not new, but they are now more common and potentially more impactful and costly for the companies affected." Ransomware attacks via the supply chain are now "an integral part of the ransomware handbook".