Cybercrime Surges to Record Highs in 2024 Amidst AI Advancements

In 2024, cybercrime reached alarming new levels, resulting in a staggering €10 billion in losses, doubling from the previous year. This surge has established cybercrime as the world's third-largest economy, trailing only the United States and China. Each day, over 3,000 cyberattacks are launched globally, targeting everyone from individuals to large corporations and public institutions.

Spain has emerged as the fifth most affected country, with 25% of reported crimes occurring online this year. More than 80% of these online incidents were scams, leading to predictions of a significant increase in complaints, potentially reaching 150,000 by 2025. The first half of 2024 alone saw 58 major ransomware attacks in Spain, an increase of 38% from the previous year.

A notable incident included the largest ransom payment recorded, amounting to €72 million, highlighting the growing danger posed by cybercriminals, who are increasingly leveraging advancements in artificial intelligence. By personalizing scams and improving methods like phishing and vishing, attackers are more effectively targeting their victims.

Industrial sectors, particularly energy, healthcare, and manufacturing, remain prime targets, with major disruptions reported. In Mexico, a significant number of cyber threats (39%) also targeted energy companies, reflecting a broader trend across Latin America.

Despite Spanish companies investing €1.2 billion in cybersecurity, a disproportionate 90% of this expenditure comes from large enterprises, leaving smaller businesses particularly vulnerable. Cybersecurity experts emphasize the need for ongoing improvements in defense strategies, including regular security updates and increased awareness training for employees, to combat the rising tide of cybercrime effectively.