A recent study conducted by Check Point Software Technologies has revealed a significant increase in global cyber attacks during the third quarter of 2024. The findings show a 75 percent surge in cyber attacks globally, with a 15 percent rise from the previous quarter. On average, organizations faced 1,876 cyber attacks during this period, marking a substantial increase compared to the same period in 2023. The data also highlights a 56 percent year-over-year increase in cyber attacks in the United States, with the manufacturing sector being the most impacted.

In a blog post published on Friday, the Check Point team emphasized the unprecedented spike in cyber attacks worldwide during the third quarter of 2024. The team stated that this period witnessed a significant escalation in both the volume and intensity of cyber threats faced by organizations, underscoring the evolving tactics of cybercriminals and the urgent need for reinforced cyber defenses.

Ransomware remains a significant threat, despite a slight decrease from the previous year. Over 1,230 ransomware incidents were publicly disclosed by extortion groups, highlighting the persistent challenge posed by this form of cyber attack. North America was the most affected region, accounting for 57 percent of reported incidents, followed by Europe at 24 percent and APAC at 13 percent. The manufacturing sector bore the brunt of ransomware attacks, representing 30 percent of reported incidents, followed by the healthcare sector at 13 percent and the retail/wholesale sector at 10 percent.

Breaking down the impact of cyber attacks by industry, the education/research sector was revealed to be the most targeted, with 3,828 weekly attacks, followed by the government/military and healthcare sectors with 2,553 and 2,434 attacks, respectively. Notably, the hardware vendor industry experienced the most significant year-over-year increase, with attacks skyrocketing by 191 percent.

In the United States, cyber attacks surged by 56 percent year-over-year, with organizations facing an average of 1,300 attacks per week, a 10 percent increase from the previous quarter. The education and research sector experienced the highest number of attacks, averaging 2,239 weekly, more than double the figure from the previous year. The healthcare industry saw a 110 percent increase in cyber attacks, reaching 2,170 attacks per week, while the utilities industry witnessed a 234 percent growth in attacks, averaging 1,339 weekly.

The data also revealed that Africa faced the highest average of attacks at 3,370 per week, representing a year-on-year increase of over 90 percent. Europe and Latin America also experienced significant rises in cyber attacks during the third quarter of 2024.

Moving forward, the Check Point data underscores the ever-evolving cyber threat landscape, emphasizing the critical need for organizations to prioritize enhancing their cyber defenses and fostering a culture of cyber resilience. The increasing frequency and sophistication of cyber attacks highlight the importance of comprehensive security strategies beyond traditional defenses.

To address the escalating cyber landscape, the Check Point blog recommends advanced threat detection technologies such as sandboxing and anti-ransomware tools, implementing zero trust architecture, backing up critical data, and creating comprehensive incident response plans. Organizations are also advised to keep systems updated, deploy multiple layers of security, provide regular employee training on cyber risks, implement network segmentation, and conduct vulnerability assessments and penetration testing.

In conclusion, the rise in cyber attacks during the third quarter of 2024 serves as a stark reminder of the need for organizations to stay ahead of cyber threats by implementing robust security measures and proactive strategies to safeguard their digital assets. By taking proactive steps to enhance their cyber defenses, organizations can mitigate the impact of cyber attacks and protect sensitive information from potential breaches and cyber threats.

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