WATERLOO, ON - BlackBerry (NYSE:BB) Limited (NYSE: BB; TSX: BB) today unveiled findings from its latest Global Threat Intelligence Report, which has recorded an alarming rate of cyberattacks against the global financial sector. Over a span of 120 days, from September to December 2023, the company's Threat Research and Intelligence team documented one million attacks, a phenomenon they describe as "death by a million cuts."
The report indicates a 27% surge in novel malware, with BlackBerry's AI-powered cybersecurity solutions intercepting an average of 3.7 new malicious samples per minute. This marks an increase from 2.9 samples in the previous reporting period. The data shows that 62% of industry-related cyberattacks targeted critical infrastructure sectors, including government, financial, healthcare, and communications, emphasizing the heightened risk to these essential services.
Commercial enterprises are also experiencing a significant threat, with 33% of all attacks aimed at industries such as retail, manufacturing, automotive, and professional services. More than half of these attacks involved information-stealing malware, underscoring the attackers' intent to access sensitive data.
The rise in cyber threats is attributed to both notorious gangs and Malware-as-a-Service groups, who exploit security misconfigurations and vulnerabilities. The report also notes the rapid weaponization of new Zero Day vulnerabilities by ransomware gangs, highlighting the urgency for robust cybersecurity measures.
According to Ismael Valenzuela, Vice President of Threat Research and Intelligence at BlackBerry, "We've reached a pivotal point where traditional detection methods alone are not enough to combat this increasingly complex problem." He emphasized the necessity of AI as a primary tool for detection and defense against sophisticated threats that seek to evade traditional security measures.
Looking ahead, BlackBerry's team anticipates a continued rise in attacks on critical infrastructure and other profitable sectors in 2024. They predict that VPN appliances will remain prime targets for nation-state-level threat actors and expect an uptick in supply chain cyberattacks. The Asia-Pacific region may see increased financially-motivated attacks from China and North Korea.
BlackBerry, known for its intelligent security software and services, provides solutions that incorporate AI and machine learning to address cybersecurity, safety, and data privacy challenges.
This report is based on a press release statement from BlackBerry Limited.
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