Ransomware Rehearsals: Developing Nations as Cybercrime Proving Grounds

Are developing countries unwittingly serving as the cyber battlegrounds for hackers perfecting their ransomware before unleashing it on the West?

In a disturbing trend, hackers are using developing nations as testing arenas for new ransomware before targeting wealthier countries. This strategy allows cybercriminals to refine their attacks in environments with less stringent security measures, exploiting rapid digitization and inadequate defenses.

Countries like Senegal and Chile have recently fallen victim to these preliminary assaults, serving as dry runs for larger-scale operations in Europe and North America.

The IMF notes a significant rise in cyber incidents since the pandemic began, with global losses reaching nearly $28 billion. As cyber gangs sharpen their tactics on less guarded systems, how can we bolster cybersecurity in vulnerable regions to prevent them from becoming the cyber crooks' playground?

Read the full article on Financial Times.

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