Pacific Region Exposed to Growing Cyber Threats
The Pacific region is facing a significant cyber risk, with participating countries experiencing financial harm, disruption of system resilience, severe harm to well-being, and reputational damage.
Financial Losses through Fraud and Scams
According to experts, financial losses through fraud and scams are the highest current realized cyber risks for the region. Some common types of cyber attacks reported in nearly every participating country include:
- Business email compromise
- Card skimming
- Unauthorized access to online banking
- Toll call attacks
- Fake online businesses targeting tourists
- Scams involving money sent overseas
Growing Threat of Ransomware and Blacklisting
The assessment highlights the growing threat of ransomware, which can have severe consequences for individuals and organizations. Additionally, blacklisting of government services/websites due to malicious activity has also been reported.
Other notable incidents include:
- Isolated incidents of power outages due to operational issues with industrial control systems
- Severe cyberbullying and harassment
Lack of Controls and Awareness
Cybercriminals are not limited by geography, and attackers are increasingly targeting entities with poor controls, rather than specific businesses with high payoffs. This means that immediate action is critical to managing cyber security risk in the Pacific region.
The assessment also notes that the Pacific region’s increasing connectivity and adoption of online services and eGovernment have created a “soft spot” for global attackers. The lack of local expectations around privacy and intellectual property protection, as well as limited awareness of risks to overall resilience and critical infrastructure, further exacerbate the situation.
Recommendations
In response to these findings, experts are urging participating countries to take immediate action to improve their cyber security posture, including:
- Implementing robust controls
- Conducting regular risk assessments
- Increasing awareness among local stakeholders about the importance of online safety and security
By taking these steps, participating countries can reduce their exposure to growing cyber threats and ensure a safer online environment for individuals and organizations alike.