Ransomware and phishing attacks continued to threaten Singapore organisations and individuals

guest · Sep 3, 2022

Singapore clocks higher ransomware attacks, warns of IoT risks
Ransomware cases climbed 54% last year to 137
by Eileen Yu @eileenscyu, Senior Contributing Editor - August 29, 2022

Ransomware and phishing attacks continue to climb in Singapore, hitting small and midsize businesses (SMBs) and social media platforms. Cybercriminals also are expected to turn their attention to Internet of Things (IoT) devices and crypto-based transactions, leveraging the lack of security safeguards on these platforms.

Some 55,000 local-hosted phishing URLs were identified last year, up 17% from 2020, with social media companies accounting for more than half of spoofed targets.
Social networking sites were the most commonly spoofed sector, followed by financial services and the online and cloud services sector.
Click to expand...

The number of ransomware cases reported to CSA totalled 137 last year, up 54% from 2020, with SMBs from sectors such as manufacturing and IT mostly falling victims to such attacks. These industries typically operated 24 by 7, leaving little time for organisations to patch their systems and potentially enabling ransomware groups to exploit vulnerabilities, CSA said.

It noted that ransomware groups targeting SMBs in Singapore tapped the ransomware-as-a-service model, which made it easier for amateur hackers to use existing infrastructure to push out ransomware payloads.
Click to expand...

CSA also identified 3,300 malicious command and control (C&C) servers hosted in Singapore last year, more than triple the number in 2020 and the largest figure registered since 2017.

In its report, CSA also outlined key developments that should be closely monitored, warning that critical IoT devices, for instance, could be targeted in ransomware attacks.

"Cybercriminals are recognising that they can inflict significant damage to organisations by infecting critical IoT devices, such as internet-connected uninterruptible power supply (UPS) units, leading to significant downtime costs," it said.
Click to expand...

CSA: Ransomware and phishing attacks continued to threaten Singapore organisations and individuals in 2021

Singapore, 29 August 2022 – The Cyber Security Agency of Singapore (CSA) released the Singapore Cyber Landscape (SCL) 2021 publication today. The publication highlights the continuous threats that ransomware and phishing posed to organisations and individuals in Singapore in 2021 (see Appendix A).
Click to expand...

Log in or Sign up

Ransomware and phishing attacks continued to threaten Singapore organisations and individuals

guest Guest

Log in or Sign up

Ransomware and phishing attacks continued to threaten Singapore organisations and individuals

guest Guest

Useful Searches