(OTTAWA) A new federal report predicts that in the coming months, Russian intelligence and police will help cybercriminals crack down on their foreign targets — including Canadian victims — with “almost complete impunity.”
The Canadian intelligence agency’s new assessment shows that Russia, and to a lesser extent Iran, are most likely havens from which cybercriminals can conduct their activities against Western targets with impunity.
These cybercrime predictions are the latest assessment from the Canadian Center for Cyber Security with support from the Royal Canadian Mounted Police (RCMP).
According to the report, ransomware — which takes vital digital information hostage in order to extort ransom — is probably the most disruptive form of cybercrime Canada faces, as such crimes are widespread and can have a severe impact on a company’s ability to function.
Canadian authorities believe that determined, for-profit cybercriminals will most likely continue to target attractive organizations in critical infrastructure sectors in Canada and around the world over the next two years.
The report points out that organized cybercrime groups can generate substantial amounts of money through their specialized technical skills, including the development of custom ‘malware’.
Some forms of cybercrime, including ransomware, affect victims financially and physically, the report also states.
“For example, some hospitals that have been victims of cybercrime have reported that the incidents have impacted care, resulting in longer patient stays in the hospital, delays in medical evaluations or procedures, and in some cases complications following medical procedures, with increased cases the mortality rate. »
Cybercrime can also disrupt the distribution of essential goods and services due to its impact on the supply chain, the report adds.
For example, a ransomware attack on Colonial Pipeline in May 2021 is cited as the cause of the closure of the largest fuel pipelines in the United States, “resulting in rising fuel prices and fuel shortages for millions of people.”
Cyber criminals are constantly developing new tactics to maximize their profits, the report states. “As the attack surface has expanded, cybercrime has become more complex, from online theft and credit card fraud to more sophisticated extortion methods,” the report said.
“The increasing interconnectedness of the modern global economy and the increasing dependence of victims on technology provide cybercriminals and cybercriminals with ever more opportunities. »
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