Malware and ransomware biggest threat to Thai businesses

Malware and ransomware continue to be just as much of a threat to businesses this year as last, according to a cybersecurity firm FortiGuard Labs.

The global cyber threat study and research team, found malware and ransomware with sophisticated attack patterns and delivery remain the main threats to Thai organisations.

Vulnerability will increase

During the fourth quarter of 2022, FortiGuard Lab detected 1.5 million virus-related incidents per day, but that’s less than 2% of the 80 million malware attacks that take place worldwide each day.

Pakthapa Chatkomes, Fortinet’s Thailand manager, said vulnerabilities detected in both software and IT devices were identified 58 billion times in the fourth quarter of 2022, accounting for 2% of those detected worldwide.

Those vulnerabilities will continue to increase, she said.

Sophisticated malware and ransomware attacks

The digital economy is will account for 30% of Thailand’s GDP by 2030. As a result, cybersecurity is becoming more important and faces increasingly complicated threats and attacks embedded with artificial intelligence.

Sophisticated attacks avoid dropping files and instead rely on system tools to run malicious code directly from remote or hidden sources. The absence of files leaves AV scanners without the necessary triggers and forensics without persistent artefacts to recover.

Growth of malware and ransomware attacks

While security solutions have evolved, many don’t check memory or review behaviours at runtime. Some rely on static approaches that don’t dynamically recognise new attack methods.

The key purpose behind cybercrime is to make money. Extortion has always been a successful and preferred method. Ransomware is merely a new means of extortion. Its success is illustrated by the growth of ransomware attacks over many years. Criminals have refined their approach to improving their extortion techniques. The important point, however, is that criminals are not married to encryption, they are married to extortion.

Fortinet Thailand

Fortinet Thailand was established in 2007. The company has provided 96,000 devices deployed in the country and has more than 1,000 business partners.

Fortinet’s revenue posted 30% growth recently globally and in Thailand thanks to growing cybersecurity awareness among enterprises and corporations, especially in the critical information infrastructure sector.