Disruptive and destructive cyberattacks around the world are expected to reach 211 by the end of the year, which would be 105% higher than in 2020, TechRepublic reports.
However, figures for such intrusions, which include the Colonial Pipeline hack in 2021 and the widespread MOVEit compromise last year, could still be underestimated, according to a report from QBE. "As technology interdependencies grow, we expect more cyber incidents to disrupt many companies in a single attack, meaning businesses are more likely to experience a disruptive cyber event," said QBE researchers. Additional findings revealed a 50% increase in ransomware intrusions aimed at organizations in the industrial sector between 2022 and 2023, as well as a fivefold rise in average ransomware payouts during the same period. Despite law enforcement agencies' mounting efforts to dismantle ransomware operations, organizations impacted by attacks are expected to increase by 11% between 2023 and 2025, with victimization most likely among those in the manufacturing, healthcare, IT, education, and government industries.
