Experts at Palo Alto Networks, the world’s cybersecurity leader, and its threat intelligence unit, Unit 42, anticipate a wave of cyberattacks targeting critical services at the Olympic Games Paris 2024, following a series of cybersecurity simulations recently conducted in host city Paris.
Palo Alto Networks’ Unit 42 has predicted several key threats for organisations to consider as they prepare for the Games, including the potential third-party disruption which will impact supply chains, as ransomware operators target suppliers and supporting infrastructure rather than directly attack the Olympics. Critical service areas such as transportation, hospitality, event management, telecommunications, media, payment processing, utilities, safety and security are all at risk, according to the simulations.
In particular, threat actors will continue conducting both Business Email Compromise (BEC) and financial fraud. According to Unit 42 research, the average payout per successful incident from BEC threat actors currently exceeds USD 500,000 (AED 1,836,505 million).
Haider Pasha, Chief Security Officer at Palo Alto Networks, EMEA and LATAM, said: “As people from around the globe come together at a renowned event such as the Olympics, there are more chances of facing serious cyber threats. Our threat intelligence team, Unit 42, has experienced cyber threats at similar sporting events in the past – such as the 2022 FIFA World Cup – and understand the importance of creating a strong security infrastructure, especially through our ongoing research analysing motives, intents, and capabilities of threat actors.”
“During the event, the biggest threat is expected to be financially motivated crimes. Cyber-enabled fraud is a common way to illegally get money from both businesses and individuals, and plays a significant role in this concern,” he added.
For example, a cyberattack on hospitality services catering to the guests attending the event could compromise guest information, disrupt hotel reservations and knock out entertainment services, leading to loss of revenue, dissatisfied guests and tarnishing the event’s wider reputation.
He concluded: “Leading up to The Eurovision Song Contest, attendees were targeted with phishing attacks and general scams around fake hotel bookings. Palo Alto Networks’ Unit 42 is seeing similar tactics ahead of the upcoming Olympics with false listings of hotel accommodations that are lower in price and designed to attract unwary visitors.”
Due to geopolitical tensions, there could also be disruptive or destructive operations by threat actors to disrupt availability of systems, influence campaigns, or how the integrity of data is compromised. Palo Alto Networks’ Unit 42 has observed an increase in politically motivated sabotage in the last two years.
In 2023, Palo Alto Networks’ Unit 42 observed nearly 4,000 posts from ransomware leak sites, marking a 49% increase from the previous year. For this year’s Olympic Games Paris 2024, Unit 42 has orchestrated a cyber vigilance program to protect critical enterprises involved in the organisation and roll out of the Games.
