Political Hackers Account for One-Third of Cyber Incidents in Switzerland
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A recent report has shed light on the growing threat of political hackers in Switzerland, who account for around one-third of all cyber incidents in the country. These hackers are often industrial or nation-state spies who target state institutions and strategically important industries such as:
- Transport
- Aviation
- Shipping
- Education
- Media
- Healthcare
These hackers prefer complex attack methods such as:
- Malware
- C&C servers
- Supply chain attacks
- Which are difficult to detect.
They tend to act opportunistically, choosing their targets based on their political views or business model.
Financial Hackers on the Rise
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In a related development, financial hackers have been increasingly using ransomware attacks to target important systems and data in Switzerland. These attacks typically involve demanding significant ransoms from companies in exchange for restoring access to compromised systems.
According to CipherTrace, a Mastercard company:
- Double-extortion ransomware attacks increased by nearly 500% between 2020 and 2021.
- Over 70% of ransom payments can be attributed to foreign threat actors, who use the income to operate complex and professionally organized “business models”.
Ransomware as a Service
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The financial hackers have also been using Ransomware as a Service (RaaS), which allows less specialized attackers to carry out ransomware attacks. This business model is similar to Software as a Service (SaaS) and involves customer service teams interacting with victims to accelerate negotiations and increase the believability of their intention to restore compromised systems.
Security Measures in Place
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Despite the growing threat, Swiss card issuers have been taking steps to improve cybersecurity. According to a Mastercard survey:
- The majority of card issuers evaluate their controls and security protocols annually using their own resources.
- Many also carry out security exercises annually and monitor the cybersecurity risks of their suppliers through manual evaluations.
Conclusion
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The report highlights the need for continued vigilance in the face of evolving cyber threats. As political hackers continue to target Switzerland’s critical infrastructure, it is essential that companies and individuals take steps to protect themselves against these attacks.