Rising Cyber security Threats in Sri Lanka: Financial Phishing Attacks Surge

Date:

By: Staff Writer

March 16, Colombo (LNW): Sri Lanka is facing a significant increase in cyber-attacks targeting businesses’ financial transactions, with 9,218 financial phishing incidents detected in 2024, according to the latest Kaspersky Security Bulletin. This surge highlights the growing sophistication of cybercriminals who are increasingly using deceptive tactics to steal sensitive financial information.

Financial phishing, a major concern for businesses globally, involves fraudulent communications designed to mimic legitimate financial institutions. These attacks trick businesses and individuals into revealing sensitive details such as banking logins, credit card numbers, and payment information. Cybercriminals typically use malicious links or attachments to lure victims, often resulting in substantial financial and reputational damage.

Kaspersky’s Head of Sales for Asia Emerging Countries, Sam Yan, emphasized that the rising number of phishing attacks in Sri Lanka signals the increasing sophistication of cybercriminals. As businesses digitize their financial transactions, he stressed the importance of adopting a multi-layered approach to cyber security. “Organizations must prioritize cyber security to safeguard sensitive data,” Yan said, urging businesses across Sri Lanka to treat cybersecurity as a critical business imperative.

Phishing attacks are among the most prevalent cyber threats today, with far-reaching consequences if not addressed promptly. Kaspersky recommends that businesses take immediate action by implementing anti-phishing technologies and ensuring their employees are trained to identify and avoid such attacks. Employee awareness is crucial in mitigating these risks.

The Kaspersky report also points to a sharp rise in financial phishing targeting the business-to-business (B2B) sector, with Sri Lanka seeing a significant increase in attacks. This underscores the urgency for Sri Lankan businesses to strengthen their cyber security practices.

To combat these threats, Kaspersky suggests several proactive measures: deploying anti-phishing technologies to detect and block malicious communications in real-time, investing in employee training to recognize phishing tactics, and implementing multi-factor authentication for enhanced security during financial transactions.

Furthermore, the Kaspersky Security Bulletin revealed a troubling rise in web-borne and local malware attacks in Sri Lanka, with over 8.6 million web-based cyber threats and 12.5 million local malware incidents detected in 2024 alone. These figures highlight the critical need for a comprehensive cyber security strategy that includes proactive threat detection and robust incident response systems.

While Sri Lanka faces an increasing number of phishing attacks, it is not alone. Countries such as Belarus, Moldova, and the Philippines have also experienced high levels of web-borne threats. Nevertheless, Sri Lanka remains a key target, with many businesses still vulnerable to these cybercrimes.

Share post:

spot_imgspot_img

Popular

More like this
Related

Govt. Prepares National Tariff Policy to Boost Trade and Attract Investment

By: Staff Writer July 18, Colombo (LNW):The Sri Lankan government is...

Lanka Ashok Leyland Plans Electric Bus Rollout amid Push for Greener Public Transport

By: Staff Writer July 18, Colombo (LNW): Lanka Ashok Leyland PLC,...

Digital Transformation Hits a Wall: Company Registrar System Collapse Sparks Concerns Over Government’s Vision

To curb corruption and deliver more efficient, transparent public...

Sri Lanka Steps Up Anti-Money Laundering Fight with Oman Pact and Global Collaborations

In a significant move to strengthen its capabilities in...