Small businesses warned about new ransomware

18 July 2022

Cyber specialist CFC has called on consumers and brokers to be wary regarding an emerging ransomware attack method targeting small businesses.

The “BazarCall” method provides small businesses with fraudulent emails on behalf of companies, tricking them into contacting a call centre. From there, victims are instructed to download malware that allows hackers to attack undetected.

CFC has growing concerns about the method, noting that in the last three months 10% of all malware incidents across its portfolio have involved BazarCall methods.

CFC Cyber Threat team leader Tom Bennett says the method is particularly challenging because it relies upon the victim to do much of the work to make themselves vulnerable.

“Unfortunately, most workplace education around phishing emails doesn’t warn about this type of social engineering, so it represents a significant new threat,” Mr Bennett said.

CFC says it has installed proactive detection and warning systems to intercept BazarCall emails for its customers and urges other insurers to do so as well.

“To date we have detected and removed every case of this malware within our impacted customers, at no cost to them,” Mr Bennett said.

“But we must all remain vigilant – cyber criminals are motivated, well-funded and well-organised and they are constantly revising their attacks.”