VỮNG MÃI MỘT NIỀM TIN
The Surge in Ransomware Attacks Heightens Cybersecurity Concerns
- 28/08/2024
The year 2024 has presented significant challenges to the cybersecurity landscape. As technological dependence grows,organizations are increasingly vulnerable to cyberattacks, particularly ransomware.
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Recent data reveals that Vietnam has been a prime target for ransomware campaigns, with organizations in critical sectors such as finance, banking, energy, and telecommunications bearing the brunt of these attacks.
According to the Vietnam Computer Emergency Response Team (VNCERT), Vietnam ranked among the top 10 countries affected by ransomware in the first half of 2024, with a significant surge compared to 2023. The percentage of organizations hit by ransomware skyrocketed from 66% in 2023 to 59% in the first half of 2024 alone.
Experience from major attacks indicates that malicious actors may have infiltrated systems long before launching their attacks, waiting for the opportune moment to encrypt data and extort victims. The consequences extend beyond financial losses, severely damaging the reputation of affected organizations.
The Vietnam Cybersecurity Agency (under the Ministry of Information and Communications) has emphasized that while ransomware attacks are not new, their frequency has increased dramatically in recent years. Financial institutions remain prime targets for hackers.
Modern ransomware attacks typically exploit a vulnerability in an organization's system, allowing attackers to gain access, maintain a presence, expand their reach, and ultimately compromise the organization's IT infrastructure. This disruption forces victims to comply with the attackers' demands.
Even global financial giants have fallen victim to ransomware, resulting in prolonged disruptions. Ransomware has emerged as a global challenge, particularly for financial institutions. This pressing issue underscores the urgent need to strengthen cybersecurity measures and protect sensitive information within financial systems.
Strengthening Cybersecurity
Experts predict that ransomware, data breaches, and advanced persistent threats (APTs) will continue to be major threats to organizations.
The recent incidents serve as a critical lesson for organizations to enhance their cybersecurity awareness. Recognizing the risks, businesses, especially those in the financial sector, must proactively review their security systems, personnel, and incident response plans.
Organizations must also strictly adhere to cybersecurity regulations and guidelines. This is a collective responsibility to protect both the organization and its customers from potential cyber threats.
The Vietnam Cybersecurity Agency regularly issues alerts about new vulnerabilities and attack trends to help organizations stay informed and address issues promptly. However, many businesses have not invested adequately in cybersecurity or prioritized compliance with regulations such as the Cybersecurity Law and Decree 85.
In response to these threats, the agency has published a handbook on complying with cybersecurity regulations and a guide on preventing ransomware attacks. These resources aim to assist organizations in enhancing their cybersecurity posture.
It is imperative that government agencies and businesses prioritize cybersecurity and implement robust measures to protect their systems. The current situation provides an opportunity to assess, evaluate, and strengthen overall security systems to improve resilience against cyberattacks.
The Vietnam Cybersecurity Agency has pledged to intensify efforts in identifying vulnerabilities, issuing remediation advisories, and enforcing compliance with cybersecurity regulations. Collaborative efforts between government agencies,cybersecurity firms, and organizations are essential to address this growing threat."
Recent data reveals that Vietnam has been a prime target for ransomware campaigns, with organizations in critical sectors such as finance, banking, energy, and telecommunications bearing the brunt of these attacks.
According to the Vietnam Computer Emergency Response Team (VNCERT), Vietnam ranked among the top 10 countries affected by ransomware in the first half of 2024, with a significant surge compared to 2023. The percentage of organizations hit by ransomware skyrocketed from 66% in 2023 to 59% in the first half of 2024 alone.
Experience from major attacks indicates that malicious actors may have infiltrated systems long before launching their attacks, waiting for the opportune moment to encrypt data and extort victims. The consequences extend beyond financial losses, severely damaging the reputation of affected organizations.
The Vietnam Cybersecurity Agency (under the Ministry of Information and Communications) has emphasized that while ransomware attacks are not new, their frequency has increased dramatically in recent years. Financial institutions remain prime targets for hackers.
Modern ransomware attacks typically exploit a vulnerability in an organization's system, allowing attackers to gain access, maintain a presence, expand their reach, and ultimately compromise the organization's IT infrastructure. This disruption forces victims to comply with the attackers' demands.
Even global financial giants have fallen victim to ransomware, resulting in prolonged disruptions. Ransomware has emerged as a global challenge, particularly for financial institutions. This pressing issue underscores the urgent need to strengthen cybersecurity measures and protect sensitive information within financial systems.
Strengthening Cybersecurity
Experts predict that ransomware, data breaches, and advanced persistent threats (APTs) will continue to be major threats to organizations.
The recent incidents serve as a critical lesson for organizations to enhance their cybersecurity awareness. Recognizing the risks, businesses, especially those in the financial sector, must proactively review their security systems, personnel, and incident response plans.
Organizations must also strictly adhere to cybersecurity regulations and guidelines. This is a collective responsibility to protect both the organization and its customers from potential cyber threats.
The Vietnam Cybersecurity Agency regularly issues alerts about new vulnerabilities and attack trends to help organizations stay informed and address issues promptly. However, many businesses have not invested adequately in cybersecurity or prioritized compliance with regulations such as the Cybersecurity Law and Decree 85.
In response to these threats, the agency has published a handbook on complying with cybersecurity regulations and a guide on preventing ransomware attacks. These resources aim to assist organizations in enhancing their cybersecurity posture.
It is imperative that government agencies and businesses prioritize cybersecurity and implement robust measures to protect their systems. The current situation provides an opportunity to assess, evaluate, and strengthen overall security systems to improve resilience against cyberattacks.
The Vietnam Cybersecurity Agency has pledged to intensify efforts in identifying vulnerabilities, issuing remediation advisories, and enforcing compliance with cybersecurity regulations. Collaborative efforts between government agencies,cybersecurity firms, and organizations are essential to address this growing threat."
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