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In Latin America, companies fall victim to cyber attacks 1586 times a week

  • May 28, 2022
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Ransomware deals with attacks involving data encryption and ransomware (Photo: Kaspersky) Cyber ​​threats have increased recently. The rise of digitalization has increased the area of ​​potential attack, implying

In Latin America, companies fall victim to cyber attacks 1586 times a week
Ransomware deals with attacks involving data encryption and ransomware (Photo: Kaspersky)
Ransomware deals with attacks involving data encryption and ransomware (Photo: Kaspersky)

Cyber ​​threats have increased recently. The rise of digitalization has increased the area of ​​potential attack, implying new security attacks.

In Latin America, organizations fall victim to cyber-attacks, on average, about 1586 times a week. According to data from the cyber security company Check Point Software for the last six months.

In Colombia, in particular, attacks on companies occur 2387 times a week. Which places it in the East as the third most attacked country in Latin America, after Bolivia and Jamaica.

Particularly noteworthy is the increase in attacks by malicious programs that steal and encrypt data known as ransom. According to the above report, In 2022, similar threats increased by 14% worldwide.: 1 in 60 organizations suffer weekly attacks of ransom programs.

“Cyber-attacks continue to grow at an alarming rate, with volume, sophistication and impact. In this age of cybercrime, The need to protect organizations from advanced attacks is more important than ever. Companies need to use pioneering technologies to protect themselves. In this scenario, organizations must prioritize prevention if they are to combat this growing threat, ”explains Ray Jimenez, Vice President of Latin America at Check Point Software.

Attempts at digital transformation have accelerated dramatically as companies master hybrid and remote operations. This new virtualization has brought new challenges in terms of cyber security, as evidenced by the numbers shared in this report.

In Latin America, organizations fall victim to cyberattacks, on average, about 1586 times a week (Photo: ifep.com/Scyther)
In Latin America, organizations fall victim to cyberattacks, on average, about 1586 times a week (Photo: ifep.com/Scyther)

A new chapter in the ransom program ecosystem

Over the past five years, the operations of ransom programs have been transformed. They switched from random email threats to organized attacks targeting organizations around the world.

The report found that Threat groups around the world use Russian / Ukrainian-themed documents to spread malware and lure victims into cyber espionage.

Depending on the target and the region, cybercriminals use bait, ranging from official appearance letters to news articles and job postings.

Researchers believe that the motivation for these campaigns is cyber espionage, which aims to steal sensitive information from governments, banks and energy companies. The attackers and their victims are not concentrated in one region but are spread all over the world, including Latin America, the Middle East and Asia.

In addition to the war between Russia and Ukraine, Russian ransomware group Conti has threatened to overthrow the newly elected government of Costa Rica with cyberattacks.Demanded a ransom of $ 20 million Get the decryption key to unlock broken systems.

From these attacks the group Conti Taking triple extortion to a new level, an attempt to interfere in the internal affairs of a sovereign country. This event probably started as an attack measure of a regular tactical ransom program, but quickly turned into a new type of event that has significant financial and geopolitical consequences.

Researchers believe that the motivation for some cases of cyberattack is cyber espionage, which aims to steal sensitive information from governments, banks and energy companies.
Researchers believe that the motivation for some cases of cyberattack is cyber espionage, which aims to steal sensitive information from governments, banks and energy companies.

Peru is another victim of extortion By Conte Group. The public phase of the extortion attack against that country began on May 7 and It currently focuses on two major government agencies: the Ministry of Finance and the Directorate General of Intelligence. Extortion against Peru is an ongoing phenomenon and is currently in its much early stages than a measure against Costa Rica.

“These recent massive ransom programs in Costa Rica and Peru, both allegedly carried out by the infamous Conti ransomware group, show that Conti’s attacks are consistent with what we have been saying for some time: Ransomware attacks increase by double and triple extortion and increase to the point that countries are suspended. “Governments and organizations simply can no longer afford the second best security,” said Francisco Robaio, Latin America’s chief engineering officer at Check Point Software.

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Source: Info Bae

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