Businesses across Southeast Asia are under siege from a relentless wave of ransomware attacks, with cybersecurity firm Kaspersky reporting an alarming 135,274 incidents blocked in the region last year alone. This translates to an average of 400 attempted attacks per day in 2024, a figure that underscores the growing sophistication and persistence of cybercriminals targeting corporate IT infrastructure. From Vietnam to Indonesia, organizations are racing to bolster defenses as attackers exploit vulnerabilities with devastating precision.
A Regional Crisis Unfolds
The ransomware epidemic has hit Southeast Asia hard, with Indonesia bearing the brunt of the attacks at 57,554 incidents in 2024, according to Kaspersky’s data. Vietnam followed with 29,282 attacks, while the Philippines recorded 21,629, Thailand 13,958, Malaysia 12,643, and Singapore, though less affected, still faced 208 incidents. These numbers paint a stark picture of a region struggling to keep pace with cyber threats that lock down systems and demand payment—often in untraceable cryptocurrencies like Bitcoin—for decryption keys.
Ransomware, a type of malicious software, encrypts data or blocks access to systems until a ransom is paid. For businesses without robust backups, the choice often boils down to paying the attackers or losing critical data permanently. The impact can be catastrophic, disrupting operations, eroding customer trust, and incurring significant financial losses. In Vietnam, a 2024 report from the National Cybersecurity Association revealed that 14.6 percent of 5,000 surveyed organizations had fallen victim to such attacks, with high-profile cases including breaches at PVOIL, VnDirect, and Vietnam Post. 
High-Profile Breaches Highlight Vulnerabilities
One of the most recent incidents in Vietnam involved CMC Corporation, which confirmed on April 12, 2025, that it had been targeted by the cybercriminal group Crypto24. This breach is part of a troubling trend of sophisticated attacks that exploit weaknesses in corporate networks. Vũ Ngọc Sơn, head of the Technology Research Unit at the National Cybersecurity Association, offered a chilling analogy to describe the tactics of ransomware attackers. “After months of quiet observation—sometimes up to half a year—attackers know exactly where the valuable assets are, the safe’s password, and the access codes. At the right moment, they lock down the entire warehouse, and no one can access the assets inside” he said.
The stealth and patience of these cybercriminals make them particularly dangerous. Once they gain access, they can remain undetected for extended periods, mapping out a company’s infrastructure before striking. This approach often leaves organizations with little recourse, especially if data backups are outdated or untested.
Sophisticated Tactics and Evolving Threats
Adrian Hia, managing director for Asia Pacific at Kaspersky, emphasized the evolving nature of ransomware threats. “With ransomware groups leveraging increasingly sophisticated methods, companies in the region are all feeling the pressure as attackers exploit vulnerabilities in the increasingly complex corporate IT and network infrastructure” he said. Hia noted that attackers target internet-facing applications, manipulate local accounts, and evade endpoint defenses, demonstrating a deep understanding of network weaknesses.
The persistence of these groups is evident in their ability to refine tactics over time. By exploiting known vulnerabilities and finding new ways to bypass security measures, they maintain a constant threat to businesses of all sizes. This adaptability has made it clear that traditional cybersecurity measures are no longer sufficient to combat the problem.
Economic and Operational Fallout
The economic toll of ransomware attacks in Southeast Asia is staggering. Beyond the immediate costs of ransom payments—which can range from thousands to millions of dollars—businesses face downtime, recovery expenses, and reputational damage. For smaller companies, a single attack can be financially ruinous, while larger corporations risk losing sensitive data or intellectual property. In Vietnam, for instance, the prolonged attacks on entities like PVOIL and VnDirect disrupted critical services and highlighted the fragility of even well-established organizations.
The broader economic implications are equally concerning. As Southeast Asia continues to position itself as a hub for technology and innovation, persistent cyber threats could deter foreign investment and undermine confidence in the region’s digital infrastructure. Governments and private sectors alike are under pressure to address these risks before they spiral into a full-blown crisis.
Urgent Calls for Stronger Defenses
Experts are sounding the alarm on the need for immediate action. Vũ Ngọc Sơn stressed the importance of raising cybersecurity awareness and investing in modern defense systems. Without these measures, businesses remain easy targets for attackers who operate with near impunity. Similarly, Adrian Hia underscored the necessity of robust cybersecurity frameworks to counter the innovative tactics employed by ransomware groups.
Recommended strategies to mitigate risks include disabling unused ports and services, applying regular software updates and patches, conducting frequent vulnerability scans and penetration tests, training employees in cybersecurity best practices, and maintaining up-to-date backups with tested recovery procedures. These steps, while resource-intensive, are critical for organizations looking to protect themselves against the growing threat.
Regional Disparities and Collaborative Challenges
While the ransomware threat affects the entire region, disparities in cybersecurity readiness exacerbate the problem. Countries like Singapore, with more advanced digital infrastructure, reported fewer attacks, partly due to stronger regulatory frameworks and higher investment in cybersecurity. In contrast, nations like Indonesia and Vietnam, where rapid digitalization has outpaced security measures, are more vulnerable. This uneven landscape highlights the need for regional collaboration to share best practices and resources.
However, collaboration is easier said than done. Differences in legal systems, funding priorities, and technological capabilities create barriers to a unified response. International partnerships, such as those facilitated by organizations like Interpol or ASEAN, could play a vital role in addressing these gaps, but progress has been slow. Meanwhile, cybercriminals operate across borders with ease, exploiting jurisdictional challenges to evade accountability.
The Human Cost of Cybercrime
Beyond the financial and operational impacts, ransomware attacks have a profound human cost. Employees at affected companies often face immense stress as they scramble to restore systems or deal with the fallout of data breaches. Customers, too, suffer when services are disrupted or personal information is compromised. In Vietnam, for instance, the attack on Vietnam Post likely affected countless individuals relying on its services for communication and logistics.
Moreover, the psychological toll of ransomware cannot be understated. The fear of being targeted—or targeted again—creates a climate of uncertainty for business leaders and IT professionals. This pervasive anxiety underscores the urgency of building not just technical defenses, but also resilience within organizations and communities.
Looking Ahead: A Race Against Time
As ransomware attacks continue to surge across Southeast Asia, the region faces a critical juncture. Without swift and coordinated action, the frequency and severity of these incidents are likely to increase, further straining businesses and economies. Governments, corporations, and international partners must work together to develop comprehensive strategies that address both immediate vulnerabilities and long-term systemic challenges.
For now, the question remains: can Southeast Asia outpace the ingenuity of cybercriminals, or will the region remain a prime target for ransomware groups? As businesses and policymakers grapple with this evolving threat, the stakes have never been higher.
