Rise in Ransomware Attacks in Southeast Asia Driven by Rapid Digitalization and Security Gaps

A wave of ransomware attacks across Southeast Asia during the first half of this year marks just the beginning of a larger trend. Companies and government agencies, particularly in countries like Thailand, Japan, South Korea, Singapore, Taiwan, and Indonesia, have experienced a dramatic rise in cyberattacks, outpacing the rate of ransomware growth in Europe, as shown by data from Trend Micro. 

With incidents like the June attack by the ransomware group Brain Cipher, which disrupted more than 160 Indonesian government agencies, the frequency of such attacks is expected to increase as the region’s economies expand.

Many organizations in Southeast Asia are rapidly digitizing their infrastructure, often prioritizing speed over security. Ryan Flores, a senior manager at Trend Micro, points out that the rush to launch digital services often sidelines security measures. 

This rush, combined with a lack of stringent cybersecurity practices, makes organizations in Asia prime targets for cybercriminals. Recent incidents, such as the ransomware attack on a major Vietnamese brokerage in March and malicious code injections in Japan, indicate that cyber attackers are increasingly focusing on this region.

Although North America and Europe remain the primary targets for ransomware, the Asia-Pacific region is experiencing a significant surge in attacks. In 2023, ransomware incidents in Asia grew by 85%, according to cybersecurity firm Comparitech. 

This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents

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Rise in Ransomware Attacks in Southeast Asia Driven by Rapid Digitalization and Security Gaps