Check Point Research reports the largest increase in global cyber attacks in the last two years

PRESS RELEASE

Check Point Research (CPR) releases new data on cyberattack trends in Q2 2024. The data is segmented by global volume, industry, and geography. These cyberattack numbers have been driven by a variety of reasons, ranging from the continued rise in digital transformation to the increasing sophistication of cybercriminals using advanced techniques such as AI and machine learning. Economic motivations for revenue from attacks such as ransomware and phishing, as well as attacks fueled by geopolitical tensions and supply chain vulnerabilities, continue to have a strong impact on this increase in numbers.

This increase in global cyberattacks is also due to hackers’ interest in education and research, which saw the largest increase in cyberattacks in the second quarter of 2024 compared to all other industries. CPR warns that these factors may further accelerate the number of cyberattacks in 2024, increasing the need for robust cybersecurity across all industries.

Key statistics:

Cyberattacks are on the rise worldwide. In Q2 2024, there was a 30% increase in weekly attacks on corporate networks compared to Q2 2023 and a 25% increase compared to Q1 2024. With an average of 1,636 attacks per organization per week, the relentless flood of attacks underscores the increasing sophistication and persistence of threat actors. Multiple cyber threat trends are occurring simultaneously.

For example, the education and research sector has always been a prime target for cybercriminals due to its abundance of sensitive information and often inadequate cybersecurity measures. This is further complicated by the fact that multiple groups of online users inside and outside the network increase the attack surface. In fact, the education/research sector was the most attacked industry globally, recording a 53% increase in Q2 2024 compared to Q2 2023. An average of 3,341 attacks were carried out per week per organization.

The government and military sector was the second most targeted sector, with 2,084 attacks per week, highlighting the extent to which cyber espionage and disruption is involved at the state level.

A look at healthcare cyberattacks in the second quarter shows that healthcare organizations experienced an average of 1,999 attacks per week, which is 15% more than the previous year. Hackers like to attack hospitals because they believe they have too few resources for cybersecurity. Smaller hospitals are particularly vulnerable because they do not have sufficient resources and staff to fend off a complex cyberattack.

The healthcare sector is the third most vulnerable to cyberattacks in the world and is lucrative for hackers because they are looking to steal health insurance data, medical record numbers and sometimes even social security numbers.

In addition, the hardware manufacturing industry saw the largest increase in attacks, with a dramatic 183% increase. This increase highlights the growing range of targets of cybercriminals seeking to exploit vulnerabilities across different sectors.

Regional analysis of cyber attacks

At the regional level, Africa recorded the most average weekly cyberattacks per organization in Q2 2024, with an average of 2,960 attacks, a 37% increase compared to the same period in 2023. The largest increase was seen in Latin America, where attacks increased 53% year-on-year to an average of 2,667 per week. This was followed by the Asia-Pacific (APAC) region with a 23% increase, highlighting the global proliferation of cyber threats.

Ransomware attacks by region and industry

In Q2 2024, ransomware attacks involving public extortion were reported up 13% year-on-year to a total of approximately 1,200 incidents. North America was the most affected, accounting for 58% of all reported ransomware attacks, despite a slight 3% year-on-year decrease. Europe accounted for 19% of incidents, a notable 28% decrease, while the APAC region saw the largest increase, up 38%, accounting for 16% of attacks.

In terms of industry impact, the manufacturing sector was the most affected, accounting for 29% of victims of public ransomware attacks globally, a significant increase of 56% year-on-year. This was followed by the healthcare sector, with 11% of attacks, an increase of 27%. The retail/wholesale sector faced 9% of attacks, a notable decrease of 34% year-on-year. The communications and utilities sectors in particular experienced a dramatic increase in ransomware incidents, with increases of 177% and 186% respectively.

This data comes from ransomware “shame sites” run by ransomware groups that make victim information public. While these sources are inherently biased, they provide valuable insight into the ransomware landscape.

Tips for prevention and damage limitation

: Conduct vulnerability assessments and penetration tests regularly and prioritize remediation actions based on potential impact.