A report by Check Point indicates a significant increase in ransomware attacks globally in 2024, with the U.S. experiencing the most attacks and India being notable for its high phishing activity. The business services sector remains the primary target, while the construction industry saw a substantial increase in incidents. Key factors contributing to this surge include easy access to ransomware tools and the evolution of threat tactics.
The surge in ransomware attacks has become a pressing concern for global organizations and nation states, as reported by Check Point. The United States encountered the highest number of incidents in the fourth quarter of 2024, totaling 936 attacks, while India ranked fifth with 44 attacks. Canada, the United Kingdom, and Germany were positioned second, third, and fourth, respectively.
A total of 5,414 ransomware attacks were reported globally in 2024, indicating an 11% increase from the preceding year. Notably, India accounted for over 50% of the phishing activity observed. The business services sector was the most affected, sustaining 451 attacks, while the retail and manufacturing sectors also experienced significant escalations, recording 201 incidents in the last quarter of 2024.
The construction industry saw a dramatic rise in ransomware incidents, with a 50% increase from 2023, advancing it to the fourth position among the most attacked sectors, surpassing finance, education, and healthcare. Several critical factors have contributed to this uptick in ransomware activities.
The Ransomware-as-a-Service (RaaS) model has lowered the barriers for novice threat actors, facilitating sophisticated attacks; this includes groups like RansomHub, responsible for 531 attacks. Furthermore, the fragmentation of the ransomware landscape, due to the cessation of major players, has led to an increase in competition among smaller, more agile groups, fostering innovation in techniques. Additionally, threat actors are evolving by targeting Linux and VMware ESXi systems, utilizing cloud-based tools for data theft, and employing artificial intelligence to improve the effectiveness of their attacks.
In summary, the report underscores a marked escalation in ransomware attacks globally, with significant implications for targeted sectors, notably business services and construction. The rise of the Ransomware-as-a-Service model has contributed significantly to this trend, enabling a broader range of attackers to engage in sophisticated cybercrime. This development necessitates heightened awareness and enhanced security provisions for organizations worldwide.
Original Source: www.thehindu.com
