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


Your free global geopolitical
risk dashboard

PGI’s Risk Portal tool provides daily intelligence feeds, country threat assessments and analytical insights, enabling clients to track, understand and navigate geopolitical threats.

The Risk Portal gives users up-to-date information and analysis on global affairs.

The Risk Portal allows users to visualise information in a unique and instantly understandable way. Mapping filters enable the visualisation of incidents by threat category, time period, perpetrator and target type.

Risk Portal users can upgrade their accounts to include the Report Builder and Country Profile Generator features. The Report Builder allows users to select information, data and images from the Risk Portal and create bespoke reports and emails.

Subscribers to PGI’s Bespoke services receive tailored analysis on specific sectors and geographies of interest, delivered at a frequency they determine.

Visit the Risk Portal

Subscribe to our Cyber Bytes Newsletter

Keep yourself in the loop with PGI by signing up to our Monthly Cyber Bytes email. You will receive updates, tips and narrative around what has been happening in the world of information security.

Get in touch today

For more information on how we can help you or your business, please contact us via:

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...

Read news article

International Womens Day - Pioneering Women in Tec...

08 Mar 2017

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

Read news article

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...

Read news article
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