BlackBerry Reports 1 Million Attacks On Global Financial Sector In 120 Days
BlackBerry Limited recently published its Global Threat Intelligence Report, shining a light on the concerning rise of cyberattacks targeting valuable data in the global financial sector. The report documented over one million attacks in a 120-day period, underscoring the ongoing threat faced by financial institutions worldwide. These attacks, often compared to "death by a thousand cuts," mainly employ common malware, indicating the involvement of multiple independent actors driven by financial motives. The report highlights that critical infrastructure, such as government, financial, healthcare, and communications sectors, experienced the majority of these attacks, making up 62 percent of industry-related incidents from September to December 2023. The BlackBerry Threat Research and Intelligence team noted a significant 27 percent surge in new malware, with AI-powered cybersecurity solutions averting an average of 3.7 new malicious samples per minute, up from 2.9 in the previous period. Overall, BlackBerry's cybersecurity solutions successfully blocked an impressive 31 attacks per minute, marking a 19 percent increase. Ismael Valenzuela, Vice President of Threat Research and Intelligence at BlackBerry, cautions about the escalating threat posed by new malware, often indicating targeted attacks designed to evade traditional detection methods. He stresses the crucial role of AI in detecting and defending against these advanced threats, emphasizing the necessity for AI to be the primary tool in cybersecurity endeavors. Key findings from the report include the fact that critical industries were the main targets, with well-known cybercriminal groups and Malware-as-a-Service (MaaS) entities exploiting security weaknesses for various purposes. Moreover, commercial businesses, including retail, manufacturing, automotive, and professional services, were victims of 33 percent of all threats.
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