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BEC attacks generated $5.3 billion in global losses between 2013 and 2017, Trend Micro researchers reported earlier this year.

Uncovered by cyber security researchers at Trend Micro, the nature of the campaign means it's possible for victims infected by one form of ransomware to still be vulnerable to a further attack from the next one in the rotation.

These consumers could be at greater risk of identity theft because “the more data an attacker has, the harder it is to stop them,” said Mark Nunnikhoven, a vice president with Internet security company Trend Micro.

“There’s no simple fix,” says Mark Nunnikhoven, vice president of cloud-computing research at Trend Micro. “This kind of internal network was never meant to be connected the way it is now.”

A recently malware attack has been leveraging the Hangul Word Processor (HWP) word processing application and its ability to run PostScript code, Trend Micro reveals.

"Government regulation is the only way this is going to happen," William Malik, vice president of infrastructure strategies at Trend Micro said on the panel. "Automobiles didn't get safer until the government regulated them."

The first half of the year saw a continued surge in ransomware, Business Email Compromise (BEC) and other threats, with Trend Micro blocking over 38 billion during the period, it claimed in a new report.

All that information packaged together sells for upwards of $30 per identity on online black markets, according to Mark Nunnikhoven, head of cloud research for cybersecurity firm Trend Micro.

Trend Micro researchers first spotted the banking malware using network sniffing to steal data back in 2014 and recently spotted an increase in activity in August 2017 coming from new variants that all had the potential to unleash different types of payloads

The mobile edition of the Pwn2Own hacking contest is returning for its sixth year, with a prize pool of $500,000 and new targets for security researchers. Pwn2Own is operated by Trend Micro's Zero Day Initiative (ZDI) and has both desktop and mobile events.