CyberCube, a leading firm in cyber risk analytics, urgently calls on governments and officials to bolster their cybersecurity defenses against public sector cyberattacks, especially with the upcoming elections. The details come from CyberCube’s latest publication, the “Global Threat Outlook, H1 2024,” released on April 15, 2024, which underscores the increased susceptibility of the public sector to cyber attacks.
William Altman, CyberCube’s Cyber Threat Intelligence Principal, expressed his concerns about the potential impacts of cyber threats on democracy. “As we approach the US presidential elections, the public sector becomes an increasingly attractive target for malicious actors who aim to sow chaos and undermine faith in our democratic processes,” Altman said. He further warned that these threats extend to the U.S. and nearly half of the world’s population participating in national elections this year.
The report highlights the vulnerability of various industries to cyber attacks. Sectors such as telecoms, IT, education, and healthcare are particularly exposed, and healthcare faces the most significant risks. Despite the grim outlook for these sectors, Altman remains hopeful that proper measures and collaboration can turn the tide against cyber criminals.
“Escalation”
On a similar note, Richard DeKorte, CyberCube’s Cyber Security Consultant, pointed out the strategic threats posed by state-sponsored actors from Iran, Russia, and China. “CyberCube foresees an escalation in the attacks perpetrated by state-nexus threat actors targeting critical infrastructure,” DeKorte explained. He elaborated that Iranian actors might target infrastructure opportunistically. In contrast, Russian and Chinese actors are likely to strategically position themselves to disrupt vital sectors crucial to the national economy and security of the US and its allies.
CyberCube’s report is a stark reminder for (re)insurers to prepare for realistic public sector cyber attacks and cyber disaster scenarios, leveraging tools like the firm’s Portfolio Manager to anticipate and mitigate potential impacts from these sophisticated cyber threats.
Source: CyberCube Report Warns of Need to Bolster Defenses Against Public Sector Attacks.