BlackBerry’s latest Global Threat Intelligence Report exposes a surge in cyber threats targeting the financial sector, with one million attacks logged over a 120-day period. The report highlights the escalation of attacks across critical industries, driven by sophisticated malware variants and underscores the pivotal role of AI in detection and defense against evolving cyber threats.
16 March 2024 – BlackBerry Limited has unveiled its latest Global Threat Intelligence Report, spotlighting a surge in cyber threats aimed at the global financial sector. Over a 120-day period, one million attacks were recorded, indicating a pervasive onslaught fueled by commodity malware deployed by numerous independent threat actors seeking financial gain.
The report, covering September to December 2023, underscores a concerning trend dubbed as “death by a million cuts,” with critical infrastructure attacks, including those targeting government, financial, healthcare, and communications sectors, comprising 62 percent of industry-related assaults. The BlackBerry Threat Research and Intelligence team observed a 27 percent increase in novel malware instances, reaching 3.7 new malicious samples per minute, thwarted by its AI-powered cybersecurity solutions.
Ismael Valenzuela, Vice President of Threat Research and Intelligence at BlackBerry, remarked on the rising threat landscape, emphasizing the escalation of attacks in lucrative sectors utilizing sophisticated malware variants. Valenzuela stressed the pivotal role of AI in detection and defense, considering the evolving tactics of malicious actors.
Key findings from the report include the targeting of critical industries by cybercriminals, with digitization attracting notorious gangs and Malware-as-a-Service (MaaS) groups exploiting security vulnerabilities for financial gain. Additionally, commercial enterprises, including retail, manufacturing, automotive, and professional services, faced a significant threat, with 33 percent of attacks directed towards these sectors deploying information-stealing malware.
The report also highlights the rapid weaponization of Common Vulnerabilities and Exposures (CVEs) by threat actors, particularly ransomware gangs exploiting Zero Day vulnerabilities to mobilize attacks against vulnerable targets.
Looking ahead to 2024, BlackBerry Threat Intelligence and Research predicts a rise in cyberattacks targeting critical infrastructure and other profitable segments. The report anticipates continued attacks on VPN appliances, supply chain vulnerabilities, and an increase in financially-motivated attacks from regions such as APAC, particularly China and North Korea.
For deeper insights, the Global Threat Intelligence Report is available for download on BlackBerry’s website, with an opportunity to participate in the Global Threat Intelligence Report Deep Dive webinar scheduled for March 26.
