Group-IB cyber crime report finds startling surge in ransomware

Group-IB cyber crime report finds startling surge in ransomware

Group-IB released a comprehensive overview of the cyber threat landscape in the Middle East and Africa (MEA) which found a startling surge in ransomware and leaks.

The Hi-Tech Crime Trends report covered the years 2023/2024 and provides a thorough analysis of how cybersecurity challenges in the MEA region have evolved. 

In 2023, Group-IB’s researchers identified a 68 per cent surge in the number of ransomware attacks, with financial services and real estate companies emerging as the most common victims. 

The Gulf Cooperation Council (GCC) countries, South Africa, and Turkey were the most frequently targeted locales by Ransomware-as-a-Service (RaaS) affiliates. 

The researchers discovered that the Middle East and Africa were significant targets for advanced persistent threats (APTs), which may be due to ongoing geopolitical conflicts in the region, along with MEA’s importance to the global energy market. 

The top targeted locales in the MEA region in 2023 were Israel (14 attacks), Turkey (12) and the GCC region (8). Government and military organisations suffered the most APT attacks in the MEA region, totalling 20. Transportation (8 attacks) and telecommunications (7) were the second and third most targeted sectors, respectively.

Ashraf Koheil, Regional Sales Director META at Group-IB, said: “Amidst the rapid digital transformations across the Middle East and Africa, cybersecurity remains paramount. The evolving threat landscape presents significant challenges for organizations, emphasizing the critical need to foster a robust culture of cybersecurity. By prioritizing proactive measures and collaboration, companies can fortify their defenses against the diverse array of cyber threats, including ransomware, APT attacks, and data leaks, all of which lurk in our region. Group-IB is committed to empowering organizations in the MEA region with cutting-edge cybersecurity technologies and expertise to navigate these challenges effectively and safeguard their digital assets.”