Cyber insurance provider CFC has warned of an emerging method of ransomware attack – dubbed ‘BazarCall’ – which is targeting small businesses.

According to CFC’s in-house cyber threat analysis team, the BazarCall attack method has been growing in use among well-known ransomware groups and is responsible for an increasing number of malware infections observed over the past three months.

The BazarCall method subverts common cyber security controls by utilizing a phishing email that tricks the victim into phoning a call centre rather than clicking a link and instructing them to download malicious software and infect their own computers. From there, the hackers can carry out their ransomware attacks undetected.

Tom Bennett, CFC’s cyber threat analysis team leader, said: “Making the victim do all the heavy lifting is a notable shift from the more traditional hacking attack vectors. Unfortunately, most workplace education around phishing emails doesn’t warn about this type of social engineering, so it represents a significant new threat.”

Bennett revealed that BazarCall accounted for nearly 10% of the malware incidents CFC has detected across its own portfolio over the last three months but the company has so far been able to prevent cyber claims stemming from these infections.

“To date we have detected and removed every case of this malware within our impacted customers, at no cost to them,” added Bennett. “But we must all remain vigilant – cyber criminals are motivated, well-funded and well-organized. And they are constantly revising their attacks. That’s why we’ve built our dedicated cyber security team to help our customers protect themselves and prevent incidents before they happen.”

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