Ransomware attacks in Europe swell
Another uptick in ransomware attacks in the second half is expected
SINGAPORE (AFP) — While global ransomware dipped during the year, Europe saw 63 percent increase in such malware attacks, SonicWall, publisher of the world’s most quoted ransomware threat intelligence, said Wednesday in its updated 2022 SonicWall Cyber Threat Report.
In terms of volume, seven of the top 11 countries targeted by ransomware were in Europe (United Kingdom, Italy, Germany, Netherlands, Norway, Poland and Ukraine), suggesting a cyber threat climate shift for the region, according to the report.
The newest report, researched and compiled by SonicWall Capture Labs, unveils an 11 percent increase in global malware, a 77 percent spike in Internet of Things (IoT) malware, a 132 percent rise in encrypted threats and a geographically-driven shift in ransomware volume as geopolitical strife impacts cybercriminal activity.
“In the cyber arms race, cybersecurity and geopolitics have always been inseparably linked, and in the last six months we have seen that play out across the cyber landscape,” SonicWall president and CEO Bill Conner said. “The cyber warfare battlefront has shifted, as our data indicates a 63 percent rise in ransomware in Europe and a concerted effort to target financial sector companies, while ransomware volume dropped in other regions. With major increases in encrypted threats, IoT malware, cryptojacking and new unknown variants, it’s critical that cybersecurity leaders have all the required tools and technology to proactively detect and remediate against increasingly sophisticated and targeted threats to their business.”
After a record-breaking 2021, overall ransomware attacks have trended down in the first half of 2022, decreasing globally for the fourth consecutive quarter. Government sanctions, supply chain deficiencies, dropping cryptocurrency prices and limited availability of needed infrastructure are all making it more difficult for cybercriminals.
The cyber warfare battlefront has shifted.
Proprietary SonicWall threat intelligence reinforces that analysis, as June 2022 saw the lowest monthly ransomware volume in two years, which helped drive down overall global volume.
“As bad actors diversify their tactics, and look to expand their attack vectors, we expect global ransomware volume to climb not only in the next six months, but in the years to come,” Conner said. “With so much turmoil in the geopolitical landscape, cybercrime is increasingly becoming more sophisticated and varying in the threats, tools, targets and locations.”
Commenting on the recent shift within the cybersecurity landscape in the last six months, Debasish Mukherjee, Vice President, Regional Sales, Asia Pacific Japan (APJ) at SonicWall said, “It is indeed alarming to witness such a dramatic shift within a short span of time, attributed to the growing political unrest in the region. In APJ, there has been surmounting evidence and data that have pointed towards a concerted effort by cybercriminals across ransomware, encrypted threats, IoT malware, as well as new unknown variants. These attacks continue to remain a big problem which is why our levels of resiliency and priorities will have to be consistently reinforced, with the mindset that cybersecurity is not only a good idea — but a necessary one for businesses of all sizes.”