Cyber criminals became "more ambitious in 2016" and cultivated advanced attack strategies as targeted attacks shifted from economic espionage to politically-motivated sabotage and subversion, according to a new global threat report from Symantec.
"New sophistication and innovation is the nature of the threat landscape, but this year Symantec has identified seismic shifts in motivation and focus," said Symantec security response director, Kevin Haley.
"Zero-day vulnerabilities and sophisticated malware are now used sparingly, as nation states shift their attention from espionage to straight sabotage. Meanwhile, cyber criminals caused unprecedented levels of disruption by focusing their exploits on relatively simple IT tools and cloud services."
Symantec's Internet Security Threat Report (IS) examines multiple facets of the threat landscape, including targeted attacks, ransomware, email attacks and IoT vulnerabilities, as well attackers' tactics and motivations.
Australia ranks fifth in the APJ region for cyber security threats and in the top 10 for spam attacks, according to local Symantec security expert Nick Savvides, who said the report revealed "new levels of ambition for cyber criminals targeting Australia in 2016," and showed no proof attacks within the threat landscape will be slowing down.
"Now more than ever, businesses and consumers alike, need to be vigilant in order to safeguard against the increasingly sophisticated attacks aimed at Australians."
The report revealed cyber criminals are executing "politically devastating attacks" in a move to undermine a new class of targets.
"Cyber attacks against the U.S. Democratic Party and the subsequent leak of stolen information reflect a trend toward criminals employing highly-publicised, overt campaigns designed to destabilise and disrupt targeted organisations and countries," the report noted.
"The upsurge in disruptive attacks coincided with a decline in covert activity, specifically economic espionage, the theft of intellectual property and trade secrets. While cyber attacks involving sabotage have traditionally been quite rare, the perceived success of several campaigns - including the U.S. election and Shamoon - point to a growing trend to criminals attempting to influence politics and sow discord in other countries."
The report also noted a "new breed of attacker", which revealed major financial ambitions and performed exercises in a bid to help fund other covert and subversive activities.
"Today, the largest heists are carried out virtually, with billions of dollars stolen by cyber criminals. While some of these attacks are the work of organised criminal gangs like Odinaff, for the first time nation states appear to be involved as well. Symantec uncovered evidence of North Korea attacking banks in Bangladesh, Vietnam, Ecuador and Poland.
"This was an incredibly audacious hack, and was also the first time we observed strong indications of nation state involvement in financial cybercrime," said Kevin Haley, director, Symantec Security Response. "While their sights were set even higher, the attackers from North Korea stole at least AU$125 million."
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