May 8, 2017 By Douglas Bonderud 2 min read

Cybercrime events are on the rise. According to Dark Reading, security company ThreatMetrix detected 130 million attacks in the first quarter of 2017, up 23 percent from the same period last year.

While the U.S. — along with the U.K. — topped the list of intended targets, the biggest volume of cyberthreats came from Europe at large, with double the volume of U.S. attacks. Why the disparity, and what does it mean for IT security?

A Collaborative Effort?

Across the U.S., malicious actors are looking for ways to defeat corporate systems and breach databases. Despite a subpar security culture, the shared application of laws, regulations and federal practices make it relatively easy to track emerging threats and target particular malware strains.

As noted by the Dark Reading piece, meanwhile, Europe is a different story. Open borders allow residents of the European Union (EU) to freely travel between member countries, but financial cybercrime, ransomware and other threats are only naturally segregated by language, culture and current corporate practice. Toss in the recent uncertainty surrounding Brexit, and it’s no surprise that the volume of attacks originating in Europe is double that of the U.S.

Among European countries, Italy, France, Germany and the U.K. accounted for half of all recorded attacks, with Germany and the U.K. at the forefront. Not surprisingly, all attacks — regardless of origin — prioritize both the U.S. and U.K. as targets.

Bad Actors Without Borders?

The shift to more foreign cyberattacks shouldn’t come as a surprise. While Brexit and other factors certainly influenced the production of cyberthreats in Europe, increasing technical proficiency across the globe make international borders a weak defense against cyberattacks.

Country-based cybercrime is just the beginning. As noted by The Guardian, security researchers have discovered serious vulnerabilities in the superyachts often owned by billionaires, which are used as combination living and corporate spaces.

For example, security expert Campbell Murray was able to take complete control of one yacht in just a few hours. He could have easily sailed the boat off into the sunset, then disappeared without a trace. Given the amount of money and power held by many of these billionaires, this kind of oceanic attack could have far-reaching global consequences.

Back on land, meanwhile, CSO Online pointed out that well-meaning employees, rather than globetrotting cyberattacks, are responsible for most financial cybercrime experienced by banks. In an effort to accommodate customers and subvert the notion of uncaring institutions, many frontline staff aren’t properly authenticating identification or vetting transactions, resulting in millions lost.

Stemming the Tide of Global Cybercrime

European cyberattacks are on the rise, outstripping the U.S. in production even as it remains a high-priority target. But focusing in on the EU — or any global region — misses the larger point: Attacks now originate from anywhere, and are often spread via unintentional human help rather than sophisticated code.

To help stem the tide of cyberthreats, companies must adopt both global vigilance and improved local oversight to ensure attacks are quickly detected and immediately addressed.

More from

How to craft a comprehensive data cleanliness policy

3 min read - Practicing good data hygiene is critical for today’s businesses. With everything from operational efficiency to cybersecurity readiness relying on the integrity of stored data, having confidence in your organization’s data cleanliness policy is essential.But what does this involve, and how can you ensure your data cleanliness policy checks the right boxes? Luckily, there are practical steps you can follow to ensure data accuracy while mitigating the security and compliance risks that come with poor data hygiene.Understanding the 6 dimensions of…

2024 roundup: Top data breach stories and industry trends

3 min read - With 2025 on the horizon, it’s important to reflect on the developments and various setbacks that happened in cybersecurity this past year. While there have been many improvements in security technologies and growing awareness of emerging cybersecurity threats, 2024 was also a hard reminder that the ongoing fight against cyber criminals is far from over.We've summarized this past year's top five data breach stories and industry trends, with key takeaways from each that organizations should note going into the following…

Black Friday chaos: The return of Gozi malware

4 min read - On November 29th, 2024, Black Friday, shoppers flooded online stores to grab the best deals of the year. But while consumers were busy filling their carts, cyber criminals were also seizing the opportunity to exploit the shopping frenzy. Our system detected a significant surge in Gozi malware activity, targeting financial institutions across North America. The Black Friday connection Black Friday creates an ideal environment for cyber criminals to thrive. The combination of skyrocketing transaction volumes, a surge in online activity…

Topic updates

Get email updates and stay ahead of the latest threats to the security landscape, thought leadership and research.
Subscribe today