Out of Office, Not Out of Danger

While anecdotal evidence suggests a rise in cybercrime during vacations, here's what the numbers tell us: analysing cyber incidents over the past decade, our data paints a clear picture. Attacks spike in June and July, with July experiencing the highest number of incidents at 217. This aligns with findings from external sources like Parachute Cloud and Norton Antivirus, who point to increased online activity during these months (think travel bookings and online shopping) as a contributing factor. Additionally, reduced organisational vigilance due to staff vacations likely plays a role.

Beyond the Numbers: Why Summer Makes You Vulnerable

The data tells part of the story, but here's a deeper dive into why summer makes businesses more susceptible to attacks:

• Fewer Eyes on the Prize: With staffing shortages due to vacations, companies may have fewer cybersecurity professionals monitoring their systems. This creates openings for attackers to exploit security gaps unnoticed.
• Cybercriminals Know When You're Vulnerable: Cybercriminals are strategic. They may time attacks to coincide with known vacation periods, knowing businesses are operating at a reduced capacity.

Seasonal Trends in Cybercrime: Some industries experience peak transaction periods during the summer months, which often coincide with vacations. This creates a double whammy for businesses in sectors like fintech, as increased online activity by customers creates more opportunities for attackers, while staffing limitations make it harder to defend against them.

Our proprietary data, encompassing major cyber incidents from the past decade, offers a detailed view of how cyber threats fluctuate throughout the year. By examining the number of verified incidents by month, we can identify clear patterns and spikes, particularly during specific periods.

To start, let’s break down the numbers:

Summer Surge: One of the most striking observations is the spike in incidents during the summer months, particularly in June and July. July, in particular, saw the highest number of incidents at 217. This aligns with external data sources indicating increased cyber activities during these months due to heightened online presence and possibly reduced organizational vigilance as staff take vacations​ (Parachute)​​ (Norton Antivirus)​​ (Varonis Security)​.

Additionally, multiple other research papers show similar trends: 

Parachute's July 2024 Report: This report highlights that ransomware attacks often spike in the summer months. The energy sector, for instance, saw a significant rise in attacks in June and July, attributed to increased usage and vulnerabilities during peak periods​ (Parachute)​.

Norton 2024 Statistics: Norton’s comprehensive report reveals a similar trend, noting that cybercrime generally increases during the summer due to heightened online activity. More people are online shopping, booking vacations, and sharing personal information, making them prime targets​ (Norton Antivirus)​.

Varonis 2023 Report: According to Varonis, ransomware and phishing attacks see a mid-year surge. This is often linked to reduced staff vigilance during vacation periods, leaving systems more vulnerable to breaches​ (Varonis Security)​.

High Activity in Q1: Interestingly, our data also shows a significant number of incidents in the first quarter of the year. January, February, and March collectively account for 523 incidents, a notable figure compared to other periods. This might be attributed to various factors, including post-holiday vulnerabilities, new year transitions in IT systems, and the roll-out of new business initiatives that might temporarily weaken cybersecurity postures.

Mid-Year Decline and Recovery: Following the summer spike, there's a marked decline in August and September, with incidents dropping to 102 and 72 respectively. This could be due to increased awareness and tightened security measures following the summer surge. However, incidents start to rise again in the last quarter, although not reaching the peaks observed in Q1 and Q3.

Our analysis, grounded in data from the past 10 years, underscores the cyclical nature of cyber incidents. Understanding these patterns can help organizations better prepare and allocate resources to counteract these threats. By recognizing the high-risk periods, particularly in summer and early in the year, businesses can enhance their defenses and mitigate potential risks more effectively.