News outlets began reporting in early March that cyberattacks on businesses and government agencies increased following the Russian invasion of Ukraine, with the risk of spillover cyberattacks against non-primary targets becoming much more widespread. The conflict amplifies the broader trend of increased volume, size, and sophistication of cyberattacks and the corresponding significant financial, reputational, and legal risks to those potentially impacted. Government agencies globally have highlighted increased cyber risk amid the deepening crisis. Earlier this year, the U.S. Cybersecurity and Infrastructure Security Agency, the Federal Bureau of Investigation, and the National Security Agency issued a joint advisory, warning critical infrastructure entities of increased risk of Russian state-sponsored attacks. The U.S. Department of Homeland Security warned in a January memorandum as well that operators of public infrastructure could be targeted because of the geopolitical tensions.
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