The growing awareness of potential threats among businesses and governments has made cybersecurity technologies the top priority across a variety of countries, and Sweden is not an exception. According to the most recent statistics, Sweden refers to one of the most well-connected countries in the world, with over 93% of households
having access to the Internet.
However, along with the rising connectivity of different devices, Sweden-based companies also start realizing the need for protecting their systems from security incidents of different types, such as penetrations, hacking attacks, malware, and many others. Falling victim to ransomware will not only bring in reputational damage but also can negatively affect the workflow and result in notable financial losses for the company.
According to Truesec's overview
, the number of cyberattacks in Sweden shows an apparent increase over the past years: compared to 2019 and 2020's performance, the attacks have tripled, resulting in over 30 billion SEK ($2.66 billion). The increasing tendency of ransomware attacks will be preserved during the upcoming decades, as the attacks are getting more severe, come on very rapidly, and hit the most vulnerable points of the company.
To adapt to the new realities and comply with the current EU Directive on the security of network and information systems, the Swedish government introduced a national strategy for cyber security in 2017
with several strategic areas, aimed at the enhancement of incident prevention capacity and systemic security. Additionally, the Comprehensive Cyber Security Action Plan 2019-2022
, presented in March 2020 has provided add-on guidance on securing the key infrastructure, efficient response to the threats before, during, and after the attacks, and outlined the basics of coordination between the domestic/overseas companies and law enforcement agencies.
Regardless of these measures, a large number of Sweden-based companies continue falling victim to ransomware attacks. The most common causes can be divided into internal, such as insufficient systems security, lack of technical expertise, or checkup systemic in victims, and external, which mainly depend on the tactics of the attackers.
Being aware of the most typical strategies criminals use to profit, enterprises can get some insights on how to secure their companies from upcoming attacks and minimize the damages if any occur. In this article, cyberlands.io
experts will explore the most high-profile cases of cyber attacks on Swedish companies, analyzing their causes, effects, and results on performance.