Ransomware and Financial Fraud Claims on the Rise Due to Third-Party Breaches

The most damaging attacks remain ransomware, but claims for financial fraud are more numerous — and both are fueled by an increase in third-party breaches. Ransomware attacks continue to cause significant damage, but financial fraud claims are more frequent. Both types of attacks are primarily due to an increase in data breaches by third parties. Third-party breaches play a crucial role in the increase in financial fraud and ransomware incidents.