Ransomware attacks on South African victims increased by 107% between Q2 2023 and Q1 2024.
Africa, and specifically South Africa, saw a significant increase in cyber extortion — more commonly known as ransomware — attacks between Q2 2023 and Q1 2024.
However, he noted that while this paints a bleak picture, the frequency of incidents is far lower than in Europe, Latin America, and the United Kingdom. “Even though we see a dramatic increase in Cy-X in South Africa, we need to be cautious in assuming that the proverbial sky is falling,” he said.published in April 2024, Ross said South Africa ranks 14th among 15 countries for the most impactful source of cybercriminal activity.
South Africa is breaking the trend regarding the most targeted industry, with cybercriminals frequently attacking finance and insurance, educational services, and professional service businesses.“It is not clear why South Africa and Africa are exhibiting different trends compared with the global average, but one may be able to imagine that Africa is not a continent known for its manufacturing and professional services industries.
“Technical controls should also be considered, such as good account authentication practices in the form of multi-factor authentication and, where possible, phishing-resistant FIDO2 passkeys,” he said.Sophos’s State of Ransomware in South Africa report for 2024 revealed that the mean ransom payment made by firms wasThis impaired businesses’ ability to recover from these attacks, significantly increasing recovery time.
Headline Orange Cyberdefense Ransomware Attackes Sophos Wicus Ross Security
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