Financial Crime World

Estonia Battles Escalating Cyber Threats Amid Financial Crime Surge

Estonia’s Cyber Security Authorities Sound Warning Over Digital Threats

Tallinn - Estonia’s cyber security authorities have sounded a warning over the country’s escalating digital threats, including a surge in denial-of-service (DoS) attacks and ransomware schemes.

Unprecedented Number of DoS Attacks in 2022

According to the Estonian Information System Authority’s (RIA) annual report, 2022 saw an unprecedented number of DoS attacks. Hackers targeted state systems, portals, and institutions, with CERT-EE, RIA’s cyber security unit, receiving over 27,000 reports of incidents. Nearly 3,000 of these had a significant impact.

Pro-Kremlin Groups Involved in Attacks

The report highlighted the involvement of pro-Kremlin hacktivists and groups in the attacks, which also targeted learning institutions, transport sector companies, and media outlets. Ukraine was also hit by Russia’s cyber attacks during its invasion, with Estonia being one of the countries that supported Ukraine digitally.

Decline in Ransomware Attacks, But Still a Concern

In a rare positive note, Estonia saw a decline in ransomware attacks, from 30 in 2021 to 21 in 2022. However, experts warned that these attacks were no less dangerous and required robust defences.

Initiatives to Combat Cyber Threats

To combat cyber threats, RIA has implemented several initiatives, including:

  • Establishment of a ‘Red Team’ to identify vulnerabilities before criminals exploit them
  • IT-consciousness campaigns targeting various groups
  • Development of an e-learning platform for public sector employees
  • Enforcement of Estonia’s new cyber security standard, E-ITS

Cyber Security Awareness Key to Success

RIA Director Gert Auväärt emphasized that cyber security is unachievable without the awareness and action of all organizations and individuals. “We must work together to ensure Estonia’s freedom, independence, and security in these challenging times,” he said.

Lessons Learned for Other Countries

Estonia’s experience serves as a stark reminder of the need for robust cyber defences in the face of escalating threats. As the country continues to battle financial crime and cyber attacks, its authorities are urging all stakeholders to take proactive measures to protect their digital infrastructure.