site.btaRansomware Attacks Grow by 300% since 2015

Sofia, March 26 (BTA) - Ransomware attacks have grown by 300% since 2015 and the economic effects of cyber crime increased fivefold between 2013 and 2017, which is why the European public perceives the lack of cyber security as a serious threat, said Bulgarian Deputy Transport Minister Dimiter Genovski at an international conference on cyber security challenges. It is taking places within the Bulgarian EU Presidency at Sofia's NDK convention centre. The conference is attended by over 150 delegates from the government sector, private business and non-governmental organizations from Europe.

Genovski said that cyber attacks on key infrastructure, e-commerce and the industry occur daily. He underscored that countries can't achieve a fair level of cyber security on their own which is why regional and international cooperation are key to addressing issues with cyber security.

A EU package of proposals in the area of cyber security includes the establishment of a new strong EU agency which will assists the EU members in countering cyber attacks. A new EU scheme for certification will be introduced to guarantee that digital products and services are safe to use, said Genovski. High standards with regard to cyber security will give a competitive advantage to the EU businesses and an efficient protection of EU citizens and public institutions. He said that work is underway under the Bulgarian EU Presidency for the swift implementation of these initiatives.

Deputy Prime Minister Tomislav Donchev recalled that digitization streamlines resources, boosts labour productivity, competitiveness and improves administration but at the same time makes people more dependent and creates new risks.

Donchev recalled that the best data security policies should balanced.