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The IoT ransomware is possible because many IoT devices are based on the Android operating system. In July 2016, Trend Micro reported that an FLocker variant can now affect smart TVs.

The majority of ransomware discovered by Trend Micro came from spam emails. That accounted for 58 per cent of the ransomware discovered by the company. Another 40 per cent came from URLs hosting ransomware files.

Key features: Trend Micro Deep Security secures physical, virtual, cloud hybrid environments. It protects enterprises from ransomware, breaches and disruptions, simplifies security operations and accelerates regulatory compliance.

Jon Clay, a cybersecurity and threat expert for Trend Micro, says that utilizing multiple exploits in an attack is common for most platforms. But since relatively few vulnerabilities are found in iOS to begin with (compared to platforms like Windows) it would be unique to see an attack sequencing multiple exploits.

In fact, for the past four years—between 2012 and 2015, inclusive—hacking and malware have edged out missing devices as the top threat for financial institutions, according to anti-malware firm Trend Micro and research conducted by eWEEK using Privacy Rights Clearinghouse data.