Ransomware cyberattacks are becoming a serious threat to Cyprus

Ransomware is becoming one of the most serious forms of cybercrime, increasingly affecting public services, companies, and critical infrastructure.

According to a study by the European Parliament Research Service, these attacks have evolved from isolated incidents into an organized international cybercrime system involving network hacking, data theft, and subsequent blackmail.

According to the European Union Agency for Cybersecurity (ENISA), the primary targets of attacks are public services, transport, the financial sector, digital infrastructure, and industry.

Notably, about 80% of attacks target small and medium-sized enterprises, which often lack sufficient resources for protection. In some cases, cyberattacks even lead to business closures.

The average cost of recovery from a single attack is estimated at approximately 1.3 million euros.

Experts note that Cyprus is in a high-risk zone due to its economic structure, heavy dependence on services and tourism, and its geopolitical position.

Specialists warn that fighting cybercrime requires a shift from response to prevention, strengthening the protection of digital systems, and closer cooperation between government and business.