Caribbean nations have been experiencing a steady rise in cyber threats, with ransomware and other cyber incidents increasing significantly from 2020 through 2024. As digital reliance grows across government, healthcare, financial, and educational sectors, the region has seen increasingly targeted cyber-attacks, often aiming to exploit inadequate security infrastructures.
2020–2023 Trends:
Ransomware: Ransomware attacks in the Caribbean escalated sharply during the pandemic. By 2022, ransomware was the most common cyber threat, with Trinidad and Tobago experiencing significant incidents where groups like Hive leaked extensive data from businesses, notably affecting the operations of local corporations like Massy Stores
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Cyberattack Attempts: Cyberattack attempts numbered in the billions across Latin America and the Caribbean in 2022, with Trinidad and Tobago alone experiencing millions of attacks annually. These attacks predominantly targeted high-value data in healthcare, finance, and government systems.
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2024 Cybersecurity Landscape:
Increased Sophistication: According to Fortinet’s 2024 Global Threat Report, attackers in the Caribbean region are acting on new vulnerabilities at a rate 43% faster than in early 2023. This reflects a shift toward more sophisticated and targeted ransomware and phishing schemes across the region
High Cyberattack Volume: Jamaica recorded 43 million cyberattack attempts in 2023 alone, showing that the Caribbean is becoming a focal point for cybercriminals, particularly as digital transformation accelerates without corresponding investment in cybersecurity defenses
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Vulnerable Sectors: As of 2024, financial services, healthcare, government, and educational institutions remain highly susceptible to ransomware and phishing attacks, with threat actors prioritizing data-rich organizations. This trend is underscored by a growing volume of leaked data on dark web forums, primarily from ransomware groups exploiting weak cyber defenses
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Graphs: Cyberattack Attempts and Ransomware Incidents (2020–2024)
Below are two graphs that illustrate the escalation of cyberattack attempts and ransomware incidents in the Caribbean from 2020 to 2024.
Cyberattack Attempts (in billions) and Ransomware Incidents (in reported cases)
Cyberattack Attempts: Represents the estimated volume of cyberattack attempts across the Caribbean, showing a sharp rise from 2020.
Ransomware Incidents: Indicates the number of reported ransomware incidents within the same timeframe, highlighting the growing trend in targeted attacks.
Let's visualize these statistics to see the trends more clearly.
Summary
Cybersecurity threats in the Caribbean are growing both in frequency and sophistication. The region's rapid digital transformation has outpaced its cybersecurity infrastructure, leaving sectors such as healthcare, finance, and government particularly vulnerable to ransomware and other cyber attacks. In response, there is an urgent need for comprehensive cybersecurity frameworks to safeguard sensitive data and maintain trust in digital services.
Sources:
Fortinet Threat Landscape Reports (2023 and 2024)
Reports from NBC SVG and the Caribbean Cybersecurity Council
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