ConnectWise CISO: 30 Percent Of All Ransomware Attacks Impact Europe

'These groups aren't slowing down, and the game is getting tougher for both attackers and defenders. But we are seeing advances in our defenses, as we’re utilizing AI on our side as well to combat these threats,’ says ConnectWise CISO Patrick Beggs.

Europe has witnessed a rise in ransomware attacks as cybercriminals continue to target businesses across the continent. And these attacks are becoming more and more sophisticated with cybercriminals now integrating AI into their tools to increase the speed and scale of their operations.

“It’s not just about asking for money anymore, these groups are looking to cause deeper pain,” said Patrick Beggs, CISO of Tampa, Fla.-based vendor ConnectWise. “These groups aren’t slowing down, and the game is getting tougher for both attackers and defenders. But we are seeing advances in our defenses, as we’re utilizing AI on our side as well to combat these threats."

Beggs spoke at ConnectWise’s IT Nation EMEA in London on Monday and said ransomware attacks are now a regular occurrence, with criminal groups exploiting vulnerabilities in both large enterprises and smaller MSPs. In fact, he said 30 percent of all ransomware attacks impact Europe.

Ransomware has long been a primary concern for cybersecurity professionals, but Beggs said he is now seeing the evolving nature of cyberattacks, particularly the use of AI-driven phishing emails and deepfake social engineering tactics. The adoption of AI has allowed threat actors to speed up their campaigns, making it harder for traditional defense mechanisms to keep up.

One trend involves attackers using AI-generated fake profiles on platforms like LinkedIn to gain trust before launching phishing schemes.

“These deepfake tactics, coupled with advanced AI tools, have significantly improved the reach and success of phishing campaigns," he said. "They’re able to scale these attacks faster than ever before.”

For Europe-based MSPs, the increase is “definitely worrying.”

“They’re increasingly targeting MSPs because we hold the keys to the kingdom, leveraging tools like RMM and other technologies,” Christopher Bowden-Hawkins, director of Hemel Hempstead, U.K.-based CBH Computers Ltd., told CRN. “It's concerning for our clients who rely on these tools for protection. However, AI can help mitigate many of these risks more effectively than humans alone. The key is finding the right balance between AI and human involvement to stay ahead of the game.”

The evolving landscape is not just about more effective attacks. It's also about the growing complexity of the compliance and privacy regulations businesses face, particularly in Europe with its stringent GDPR (General Data Protection Regulation).

"For smaller MSPs and businesses, navigating this compliance landscape is a challenge," Beggs said. "It’s crucial that companies understand the rules they operate under and have the right data protection mechanisms in place."

Despite these growing threats, there are silver linings in the cybersecurity world. Vendors like ConnectWise are leveraging AI to enhance their defense capabilities, automating functions that were once manually handled by security teams.

“We’re automating a lot of tasks, like scanning compliance questionnaires, which allows our team to focus on more strategic activities," he said. "AI is definitely a game changer when it comes to both defending and understanding your attack surface."