Africa's cyber extortion increased by 100% in 12 months

Africa's cyber extortion cases have surged by 100% over the past year, according to the latest Cy-Xplorer 2024 report by Orange Cyberdefense, the cybersecurity arm of Orange Group. The report highlights a dramatic increase in cyber extortion incidents, including ransomware and other cyberattacks, affecting 11,244 confirmed business victims worldwide.

The analysis reveals a global year-on-year (YOY) increase of 77% in observable cyber extortion victims over the past 12 months. The actual number of victims is estimated to be 50-60% higher than reported, due to the dynamic and evolving nature of cybercrime.

Among African nations, South Africa, Nigeria, and Kenya are the most affected by the rise in cyber extortion. Diana Selck-Paulsson, lead security researcher at Orange Cyberdefense, emphasized the borderless nature of cybercrime and the need to adapt to evolving threats, especially with the emergence of new technologies like GenAI.

Orange Cyberdefense has been monitoring cyber extortion since 2020, identifying around 11,200 victims to date. The latest data shows that small businesses are targeted four times more often than medium and large enterprises. The healthcare and social assistance sectors have experienced the fastest growth in cyber extortion cases, with a 160% YOY increase.

The report also notes that while law enforcement has made progress in apprehending cybercriminals, new perpetrators quickly replace those removed from the ecosystem. Hugues Foulon, CEO of Orange Cyberdefense, commented on the increasing efforts of law enforcement to combat cyber extortion. However, he warned that the rapid rise in victim numbers, the deployment of new tactics, and the fragmented nature of the cybercrime ecosystem make it a challenging and ongoing battle.