Nearly 4,000 cyber attacks against Ukraine occurred between January 2022 and September 2023, according to Assistant Secretary for Financial Institutions at the U.S. Treasury Department, Graham Steele, on Nov. 17.
Steele, who was speaking at the Conference on Catastrophic Cyber Risk and a Potential Federal Insurance Response in New York, said this figure represents a three-fold increase in cyber attacks compared with the pre-war period.
“Cyber activity in the context of the Russia/Ukraine conflict is not limited to government actors,” Steele said.
“Non-state cyber actors on both sides of the conflict have targeted a wide range of organizations, including in the financial services sector — with relatively unsophisticated incidents known as distributed denial of service attacks.”
In June 2023, pro-Russia hacktivist group NoName057(16) threatened to target Ukraine’s financial sector.
Several Ukrainian banks were targeted in the following four days, including First Ukrainian International Bank (PUMB), State Savings Bank of Ukraine (Oshchadbank), Credit Agricole Bank, and Universal Bank.
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