Ransomware Crisis: A 2024 Overview of Cyber Threats to Critical Infrastructure

In 2024, ransomware surged as the leading cyber threat to critical infrastructure, with reported cases increasing by 9% from 2023. Nearly half of all ransomware complaints targeted critical sectors like manufacturing and healthcare. The FBI highlighted an overall record of $16.6 billion in cybercrime losses, exacerbated by rising cryptocurrency scams.

Ransomware emerged as the most significant cyber threat to critical infrastructure in 2024, with complaints rising by 9% compared to the previous year, according to the FBI. Ransomware attacks accounted for almost half of the complaints received by the Internet Crime Complaint Center (IC3) in 2024, an indication of the growing menace. Critical sectors like manufacturing, healthcare, and government facilities were among the primary targets, according to Cynthia Kaiser, deputy assistant director of the FBI's Cyber Division.

Alongside ransomware, cyber scams resulted in a record $16.6 billion in losses, marking a 33% increase over 2023. Notably, those aged 60 and older experienced significant impacts, with $4.8 billion in reported losses. Cryptocurrency fraud was responsible for at least $9.3 billion of losses, increasing by 66% over the previous year.

The FBI's joint advisory with the Cybersecurity and Infrastructure Security Agency (CISA) warned of threats like the Medusa ransomware variant, involved in numerous attacks on critical infrastructure. Despite international law enforcement efforts against ransomware operators, these threats remain prevalent, highlighting vulnerabilities within essential sectors.

(With inputs from agencies.)