A new joint report released this week by Northwave Cyber Security and Marsh, a division of Marsh McLennan, warns that ransomware attacks targeting small and medium-sized businesses have sharply increased, creating serious geopolitical, economic, and national security concerns.
Northwave Cyber Security, a leading European cyber resilience firm, and Marsh, one of the world’s largest insurance brokers and risk advisers, analyzed thousands of cyber incidents across Europe and Israel to reveal how ransomware threats are turning into a structured global industry.
The report finds that many ransomware operators, often linked to Russia, Iran, North Korea, and China, have intensified their attacks on small and mid-sized businesses that form the backbone of Western economies. Instead of focusing only on large corporations or government agencies, these groups are increasingly targeting vulnerable firms in sectors such as IT services, retail, logistics, and construction.
Peter Teishev, head of the Special Risks Department at Marsh Israel, said the threat landscape has changed significantly. “As ransomware attacks become more sophisticated and decentralized, organizations must shift from responding after incidents to building proactive defense strategies,” he explained.
He added that Israel has faced particularly high levels of cyberattacks over the past two years, making preparedness a national priority.
The report estimates that global ransom payments re
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