CyberRes Reveals Digital Value Chain Attacks on a Rapid Rise with Ransomware Victims Nearly Doubled Year over Year

Galaxy’s threat research team provides insights into the business impact of global threats

Bangalore, India – June 22, 2022 – CyberRes, a Micro Focus (LSE: MCRO; NYSE: MFGP) line of business, is pleased to announce the release of the first Annual Report on the current state of cyberthreats and an overview of cyber events in 2021. This strategic report signifies another milestone of the advanced threat research journey that started with the launch of the immersive Galaxy Online platform in January 2022 to deliver better cyber resiliency to the market.

CyberRes’ Research shows that threats have rapidly evolved to target the growing threat surface of organizations that have incorporated digital into their business growth DNA. As organizations move quickly to adopt digital as a competitive differentiator, adversaries are equally quick at exploiting vulnerabilities in the digital value chain.

The 2022 CyberRes Galaxy Annual Report is the first in a series to provide a perspective on geopolitical, regional and industry threat conditions and what to expect throughout the year. Some of the key findings for 2021 outlined in the report include:

North America topped the list of most impacted regions, experiencing 33.5% of the total cyber issues reported, followed by Asia-Pacific at 23.5% and Europe at 20%.

Globally, approximately 19.3% of the cyberattacks were ransomware.

The services sector was most targeted globally, with 33.7% of cyberattacks, followed by the public sector (21.4%).

There was a 200% growth in cyberattacks targeting the financial sector.

Almost 69% of the cyberattacks in North America were motivated by financial gain.

Germany (21.6%) and France (18.3%) were the two countries affected most by cyberattacks in Europe.

Approximately 33% of the total cyberattacks conducted in the Asia-Pacific region were meant for cyber espionage, followed by financial gain.

In Latin America, LockBit ransomware accounted for 28.3% the region’s total ransomware attacks, followed by Prometheus ransomware with a share of 13%.

In the Middle East and Africa, 31% of the geopolitical and cybersecurity events were motivated by financial gain and political advantage.

The telecommunication and technology sectors experienced the most cyberattacks in the Australia-New Zealand region with 35.7%, followed by financial services at 18.5% and the healthcare sector at 11.4%.

“Everyone is at risk from feeling direct or indirect impacts from cyberattacks, as all records were smashed last year in terms of the sheer number of cyberattacks on government entities, private-sector organizations, and individuals,” said Mark Fernandes, Global CTO at CyberRes. “Unfortunately, this trend is continuing in 2022. One of the key effective defenses is to maintain a clear understanding of the current landscape, tactics, and threats that could be emerging.”

This Annual Report was compiled by experts in the CyberRes Galaxy Threat Research Program, which continuously tracks existing and emerging global cybersecurity threats. In addition to active threats, the program continuously tracks geopolitical and social events, as research has shown that they have a direct correlation to cyber activity and the constantly evolving threat landscape.

The report is available here.

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About CyberRes

CyberRes is a Micro Focus line of business. We bring the expertise of one of the world’s largest security portfolios to help our customers navigate the changing threat landscape by building both cyber and business resiliency within their teams and organizations. CyberRes is part of a larger set of digital transformation solutions that fight adverse conditions so businesses can continue to run today, keep the lights on, and transform to grow and take advantage of tomorrow’s opportunities.

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