Europol Reports Sharp Increase in Cybercrime

04 Oct 2016

Europol Reports Sharp Increase in Cybercrime

Europol’s yearly Internet Organised Crime Threat Assessment (IOCTA) report shows that incidents of cybercrime increased sharply in 2016 and reaffirms that there is an ever growing cybercriminal economy.

Ransomware one of the top threats

Unsurprisingly, the reports shows an increasing trend in the use of malware, with ransomware and banking Trojans remaining the top threats. With ransomware easily available to purchase on the Darknet, its usage is likely to continue to rise. 

Following a spate of terrorist attacks across Europe over the past year, the report suggests that cybercriminals are offering their services to militant groups. This could enable them to attempt to conduct cyber-attacks, but according to Europol, such groups have not yet utilised these services and their capability remains limited to the ability to conduct online vandalism with simple website defacements.

In what is now becoming a worryingly regular message, Europol said: ‘The volume, scope and material cost of cyber-crime all remain on an upward trend and have reached very high levels. The availability of cyber-crime tools and services, and illicit commodities on the Darknet.’

Phishing attacks continue to increase, but the number of attacks aimed at important targets such as CEOs has become a major threat. This type of attack called ‘Whaling’ is a much more refined version of phishing.

The report also showed that there has been an increase in attacks on bank cash-machine networks and exploitation of contactless payment card transactions is on the rise.

Tackling the threat

With the continued rise in cyber-attacks across the continent showing no signs of slowing, businesses and organisations need to do more to protect themselves from the threat. According to the UK Government, you can reduce the cyber threat to your organisation by up to 80% by implementing basic cyber security measures.

PGI’s one-day Cyber Security Awareness course  will give you an increased understanding of cybersecurity; the threats, the risks and most importantly, the strategies to mitigate the dangers. For more information call us on +44 (0) 207 887 2699

Have you suffered a cyber security breach and need advice? Contact our FREE cyber surgery. For more details click -

For the latest PGI updates like our pages on LinkedIn – PGI,  PGICyber   Facebook– PGI,  PGI Cyber  and  Twitter

Share this article

Contact us

Call us now to discuss your requirements with one of our consultants.

Contact us today

Related News

CISMP, CISSP and CISM - what's in an acronym?

20 Mar 2017

There is a wide range of different security courses available, and a mind-boggling array of certific...

Watch Video

International Womens Day - Pioneering Women in Tec...

08 Mar 2017

Pioneering Women in Technology – Katherine JohnsonThe Oscar season has been and gone. The...

Watch Video

Law Firms and why they need cyber security

06 Mar 2017

Suffering a data breach can be devastating for any company but for law firms the impacts can be part...

Watch Video
Back to the News Hub

Follow us

+44 (0)207 887 2699
©2017 PGI - Protection Group International Ltd. All rights reserved.
PGI - Protection Group International Ltd is registered in England & Wales, reg. no. 07967865
Registered address: Cascades 1, 1190 Park Avenue, Aztec W, Almondsbury, Bristol BS32 4FP