Russia-Ukraine war raises cyberattack spillover risks: Fitch

By Ovunc Kutlu

ANKARA (AA) - Russia's war on Ukraine increases spillover risks of global cyberattacks, according to Fitch Ratings on Friday.

"Cyberattacks on businesses and government agencies have increased following the Russian invasion of Ukraine, with the risk of spillover cyberattacks against non-primary targets becoming much more widespread," the global rating agency said in a statement.

"Heightened risk exists particularly for issuers conducting business in these countries or with their governments, as well as for entities or countries that impose sanctions or deemed to interfere," it added.

The agency said potential targets include critical infrastructure such as financial services, governments, and utilities.

Corporate information technology teams handled 623 million ransomware attacks in 2021, up 105% from the previous year, according to security vendor SonicWall, Fitch noted.

SonicWall reported a 1,885% increase in attacks on government targets, 755% rise in healthcare, and 152% increase in education, it added.