Priya Patel
TLDR:
- Cyber attackers are targeting developing nations to test ransomware variants before attacking wealthier countries with better security systems.
- Businesses in developing countries lack cybersecurity awareness, making them easy targets for cyber gangs to refine their methods.
Cyber attackers are increasingly targeting developing nations, such as Africa, Asia, and South America, with their latest ransomware variants as a strategy to refine their malicious programs in less secure environments before hitting wealthier nations with more sophisticated security systems. Recent victims include a bank in Senegal, a financial services company in Chile, a tax firm in Colombia, and a government economic agency in Argentina. This tactic allows cyber gangs to perfect their methods before attacking high-value, better-defended targets.
Businesses in developing countries often lack cybersecurity awareness, making them easy targets for cyber gangs. For example, a cyber gang named Medusa started attacking businesses in South Africa, Senegal, and Tonga in 2023, and then proceeded to carry out 99 breaches in the US, UK, Canada, Italy, and France. These attacks usually involve stealing and encrypting companies’ data, with victims only becoming aware of the attack when locked out of their systems and instructed to negotiate a ransom on the dark web. If victims refuse, the stolen data is published.
Not all cyber gangs follow a systematic approach; some are opportunistic and target developing countries because local hackers can cheaply acquire ransomware. Gangs like Medusa often sell their tools to less sophisticated hackers who attack ‘easier’ targets. The rapid digitization in Africa is outpacing the development of robust cybersecurity measures, creating a gap that cybercriminals exploit. This highlights the need for businesses and individuals worldwide to invest in strong cybersecurity measures, including antimalware tools like Panda Dome, to protect against evolving threats.
