THE BOTTOM LINE
·
SUBSCRIBERS

Data breaches and ransomware: Prepared or paying?

    • Ransomware will still be high on the list of cyber threats in 2023, as it is very lucrative and easy to carry out, with limited risks of retaliation for attackers.
    • Ransomware will still be high on the list of cyber threats in 2023, as it is very lucrative and easy to carry out, with limited risks of retaliation for attackers. PHOTO: ST FILE
    Published Wed, Jan 4, 2023 · 05:55 AM

    DATA breaches by sophisticated hacker groups are increasing in frequency and size. In September 2022, Australia reported arguably its largest cyberattack in history, affecting 10 million clients of telecommunications firm Optus. In Indonesia, several breaches of major government and corporate websites in recent years have leaked the personal data of millions of citizens that was later offered for sale in public hacker forums.

    Cybercriminals such as the Desorden Group carefully select their victims – preferably conglomerates in Asia with apparent vulnerabilities that can be easily exploited. They extract data from the organisation and threaten to publish it, unless a ransom is paid. If the victims do not respond, the group publicly shames them – revealing the leak while further ramping up the pressure.

    Threat actors are less inclined to stay under the radar these days. They have been vocal and willing to share details with the media of how they breached the organisation’s cybersecurity perimeter. The Daixin Team that attacked AirAsia brazenly stated how the chaotic configuration of the airline’s network frustrated them so much that they decided to abandon their assault.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Share with us your feedback on BT's products and services