Cyber criminals are turning their attention to the supply chain

INDIA: On one hand, ransomware-related outsourced incident response engagements against financial institutions declined from 22% in 2016 to 5% last year, but on the other hand, the business and professional services supply chain has clearly become a prime target for trade secrets and intellectual property theft, potentially exposing customer and business partner data.

As per a Dimension Data report, 2017 saw a worrying increase in ransomware and other cyberattacks targeting the supply chain, with the business and professional services sector receiving a significant increase of attacks, particularly in the EMEA region, which saw 20% of all attacks targeting this sector.

In 2017, there was a massive 350% rise in ransomware, representing 7% of all global malware attacks (up from 1% in 2016), and is set to continue due to the popularity of cyber adversary campaigns.

The businesses and professional services sector received 10% of global ransomware attacks, the third most targeted industry (up from sixth position in 2016), behind finance and technology. It also ranked third in the Americas (9%) and was the most vulnerable sector in EMEA, receiving 20% of all attacks.

Despite the drop in outsourced incident response engagements, the finance sector remains the number one target for cyber criminals who carry out regular reconnaissance to spot potential infrastructure and application vulnerabilities.

Technology was the second most cyber-attacked industry in 2017, with a 19% attack volume, with business and professional services moving to third place. Interestingly, attacks on the government sector last year dropped to 5% from 9% in 2016.

Attacks against education doubled from 9% in 2016 to 18% in 2017.

Geography-wise, the technology and finance sectors account for 70% of all attacks in the Americas. The US is a world leader in technology innovation while the finance sector collects and stores a vast amount of personal data which cyber criminals can monetise.

Education was the most attacked sector in Australia (26%). With an open network model and collaborative environments that enable connectivity and research between students, campuses, colleges, and universities, this is a valuable target.

Attacks on the APAC manufacturing sector have dropped to a mere 7% (32% in 2016), because of the adoption of enhanced security governance and proactivity in raising cyber defenses. Attacks against the finance sector decreased from 46% in 2016 to 26% in 2017, but it remained the most attacked sector in APAC. This was caused by service-specific attacks.

China was the top attack source for manufacturing cyber-incidents, accounting for 67% of hostile activities targeting the sector in EMEA.