Sept. 3rd – According to telemetry data, a number of nations in Southeast Asia have been experiencing a ransomware surge since the beginning of 2024.
One incident disrupted more than 160 Indonesian government agencies at once. After another incident, a major brokerage in Vietnam was forced to halt securities trading for over a week.
Although more than 75% of ransomware attacks continue to target organizations in North America and Europe, the number of publicly reported ransomware attacks in Asia grew by 85% in 2023, and could increase further this year.
The ransomware rampage
In the APAC region, ransomware groups have targeted the manufacturing sector, the government sector and the healthcare sector.
Cyber criminals are less focused on specific parts of the world and more focused on where they can find substantial payouts with minimal effort. Hackers know that because cryptocurrency is popular in Southeast Asia, the probability of a firm paying a ransom is higher than elsewhere.
Cyber attackers are not only employing tactics such as double extortion, but they’re also using data theft and social media pressure to increase the ferocity of their efforts and their impact.
Improving APAC security
The APAC region is currently experiencing a period of rapid digital transformation, which has also contributed to the region’s general vulnerability to ransomware.
Organizations in the APAC region are strongly advised to enhance their cyber security. There is an urgent need for organizations to rethink security measures, processes, resources and strategies.
For more on this story, click here. For the latest information about how Check Point is combating cyber threats in the APAC region, click here.