Cybercrime on the Rise in Switzerland: Ransomware Attacks Surge

An Unwelcome Trend

Switzerland has become a magnet for cybercriminals, with over 2,700 firms falling victim to ransomware attacks in the past year alone. This represents a significant increase from the 4,800 attacks recorded over the past five years.

The Pandemic’s Impact

The Covid-19 pandemic is largely to blame for the surge in cybercrime. With more people working from home and relying on online activities, vulnerabilities have increased, making it easier for hackers to strike.

The Consequences of Ransomware Attacks

Cybersecurity expert Abdelkader Cornelius notes that around 40% of targeted firms pay the ransom demanded by hackers, with the average payout being CHF167,000 ($180,000). This is a staggering figure, and the consequences can be severe for affected companies.

High-Profile Cases

Several notable cases have come to light, including:

• The shutdown of price-comparison website Comparis, which was attacked and demanded a ransom of $400,000.
• The Stadler rail company, defense contractor RUAG, and the canton Vaud municipality of Rolle, all of which have been targeted.

Government Response

In response to the growing threat, the Swiss government has announced plans to establish a command center comprising 575 members of the armed forces who will be trained over the coming years. The center will focus on protecting not only state data but also critical infrastructure and private companies active in fields like telecoms or transport.

Why Companies Pay Ransom

Many companies choose to pay the ransom discreetly, rather than face the reputational damage of it going public. Cornelius emphasizes that hackers currently demand between 3% and 5% of a company’s annual turnover as ransom.

Prevention is Key

The growing list of cybercrime victims highlights the need for increased vigilance and measures to prevent these attacks. As Switzerland continues to be an attractive target, it is crucial that companies and individuals take proactive steps to protect themselves against these threats.

What Can You Do?

To avoid becoming a victim of ransomware:

• Ensure your software and systems are up-to-date.
• Back up your data regularly.
• Use strong passwords and keep them confidential.
• Be cautious when opening attachments or clicking on links from unknown sources.
• Educate yourself and others about online safety best practices.

By taking these steps, you can help protect yourself against the growing threat of ransomware attacks in Switzerland.