Check Point Software’s 2024 Security Report Reveals Ransomware Surge and Advances in AI Defence

Check Point Research (CPR), the Threat Intelligence arm of Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a leading AI-powered, cloud-delivered cyber security platform provider, released its much-anticipated 2024 Annual Security Report. This year’s edition delves into the increasing complexity of cyber threats, with a special focus on the dramatic rise in ransomware incidents and the strategic use of AI in cyber security defences.

Reflecting on a year marked by significant cyber turmoil, the report highlights a 90% increase in publicly extorted victims of ransomware attacks. Such ransomware attacks now account for 10% of all malware detected by Check Point’s sensors. The Check Point Incident Response Team (CPIRT) observed that nearly half of their cases involved ransomware, with the number of publicly shamed victims soaring to approximately 5,000, doubling from the previous year.

Key Findings of the 2024 Security Report include:

• Ransomware Evolution: Attackers have refined their strategies, leveraging zero-day vulnerabilities and enhancing Ransomware-as-a-Service (RaaS) with new extortion tactics. High-value targets are increasingly in the crosshairs, demonstrating the need for robust defence mechanisms.

• Targeting Edge Devices: The report identifies a growing trend in attacks on edge devices, highlighting the critical need for comprehensive security measures that encompass all network elements.

• Rise in Hacktivism: State-supported hacktivism has escalated, with notable increases in cyber activities tied to geopolitical conflicts. The use of destructive wipers for maximum impact underscores the evolving nature of cyber warfare.

Maya Horowitz, VP of Research at Check Point commented, “In an era of relentless innovation in cybercrime and accumulating tensions involving nation-state threat actors and hacktivists globally, organisations must adapt. Investing in stronger defences with robust AI-powered and cloud-delivered cyber security measures, and proactively fostering collaboration, is key to effectively safeguarding against these evolving dangers.”

The 2024 Security Report serves as a crucial resource for organisations, policymakers, and cyber security professionals, offering deep insights into attack trends and providing guidance for strengthening cyber resilience. The findings are based on data drawn from the Check Point ThreatCloud AI Cyber-Threat Map which looks at the key tactics cyber criminals are using to carry out their attacks. A full copy of the report is available here.