Malware attacks rise as cyber actors skirt security, target financials
Malware attacks recorded their first uptick in volume in more than three years during the first half of 2022, including a 45 percent increase in “never-before-seen” attacks and a sharp rise in targeting of the financial sector and the internet of things, cyber security group SonicWall said in its mid-year update to the 2022 Cyber Threat Report.
Ransomware may still be on the decline globally, down 23 percent year on year, but Europe is suffering a 63 percent y/y increase with seven of the top 11 targeted countries in Europe (UK, Italy, Germany, Netherlands, Norway, Poland and Ukraine), thanks in no small part to geopolitical developments.
The financial sector is under fire on a 243 percent increase and cryptojacking is also running wild at 269 percent annual growth, authors claimed. Malware attacks on the sector doubled.
The fourth consecutive quarter of decline in ransomware likely stems from government sanctions, supply chain deficiencies, the decline in cryptocurrency prices and limited availability of needed infrastructure, analysts claimed. 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,” SonicWall CEO Bill Conner (pictured) said. “With so much turmoil in the geopolitical landscape, cybercrime is increasingly becoming more sophisticated and varying in the threats, tools, targets and locations.”
The uptick in malware may seem mild for the cyber segment at 11 percent to 2.8 billion attacks, but SonicWall claims a 45 percent increase in “never-before-seen” malware variants, an increase that is 21 times that seen by SonicWall when it began tracking in 2018.
Encrypted threats rose 132 percent and IoT malware increased 77 percent, in part as cyber criminals change their approach to targeting the United States. While malware and ransomware both decline in North America, encrypted threats were up an astounding 284 percent and IoT malware soared 228 percent.
“The international threat landscape is now seeing an active migration that is profoundly changing the challenges not only in Europe, but the United States as well,” said SonicWall expert on emerging threats Immanuel Chavoya. “Cybercriminals are working harder than ever to be ahead of the cybersecurity industry.”
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