Cyber threats reached an all-time high in 2016, with ransomware and business email compromise (BEC) scams gaining increased popularity among cyber criminals looking to extort enterprises, according to a new study by security technology company Trend Micro Inc.

A 752% increase in new ransomware families resulted in $1 billion in losses for enterprises worldwide, the report said. Trend Micro and the Zero Day Initiative (ZDI)—a program begun by Trend Micro’s TippingPoint unit to reward security researchers for responsibly disclosing vulnerabilities—discovered 765 vulnerabilities in 2016.

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