In its annual Digital Defense Report, covering trends from July 2023 to July 2024, Microsoft highlights the alarming rise in cyberattacks during growing geopolitical tensions. The report reveals that Microsoft’s customers are facing an astounding 600 million attacks daily from both cybercriminals and nation-state actors. It also emphasizes how cyber operations are deeply intertwined with geopolitical conflicts.
“To effectively counter the rising tide of cyber threats, we must not only strengthen our digital defenses at every level, but also foster a deep, enduring commitment to cybersecurity principles. This commitment must span from individual users to corporate executives and government leaders, ensuring a united front against malicious cyber activity,” commented Anna Bar Lev, Senior Security Go To Market Manager for Southeast Europe at Microsoft.
The Biggest Changes of the Year
Microsoft reported 2.75 times increase in ransomware attacks compared to the previous year, but the percentage of organizations that are ultimately ransomed (reaching the encryption stage) has decreased more than threefold over the past two years. Attackers still rely on predictive human behaviors such as selecting easy-to-guess passwords, reusing them on multiple websites, and falling prey to phishing attacks. Password attacks make up 99% of all identity attacks.
Cyber-enabled financial fraud is rising globally, with new trends in payment fraud and the misuse of legitimate services for phishing and malicious activities. One alarming type of fraud is techscam, which tricks users by impersonating legitimate services or using fake tech support and ads. Techscam traffic surged 400% from 2021 to 2023, far outpacing the 180% rise in malware and 30% rise in phishing, underscoring the need for stronger defenses.
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