MTI Consulting and Sri Lanka Computer Emergency Readiness Team: Sri Lanka CERT Reports Sharp Rise In Phishing And Ransomware Incidents

Sri Lanka Faces Surge in Phishing and Ransomware Attacks Amid Digital Growth

Sri Lanka’s cybersecurity landscape is under increasing strain as the country experiences a sharp rise in phishing and ransomware incidents. The Sri Lanka Computer Emergency Readiness Team (CERT) has reported a growing threat landscape, fueled by rapid digital adoption in banking, e-commerce, and government services.

Hilmy Cader, CEO of MTI Consulting, warns that cybercrime now amplified by generative AI is overwhelming governments, businesses, and consumers globally. He emphasizes that cybersecurity must be treated as a strategic emergency. The escalating threat aligns with projections from Cybersecurity Ventures, which estimates global cybercrime costs will reach $10.5 trillion annually by 2025, positioning it as the world’s third-largest economy if measured by GDP.

Local experts highlight weak governance and low cybersecurity awareness as key vulnerabilities, leaving state systems exposed. Business Email Compromise (BEC) attacks are also on the rise, further compounding the risks for organizations and individuals. As Sri Lanka continues its digital transformation, the gap between technological advancement and security preparedness widens, making the country a prime target for cybercriminals.

Source: https://cybersecurityventures.com/sri-lanka-cert-reports-sharp-rise-in-phishing-and-ransomware-incidents/

MTI Consulting TPRM report: https://www.rankiteo.com/company/mti-consulting

Sri Lanka Computer Emergency Readiness Team TPRM report: https://www.rankiteo.com/company/sri-lanka-cert-cc

"id": "srimti1779978278",
"linkid": "sri-lanka-cert-cc, mti-consulting",
"type": "Cyber Attack",
"date": "5/2026",
"severity": "60",
"impact": "2",
"explanation": "Attack limited on finance or reputation"

{'affected_entities': [{'industry': ['banking',
                                     'e-commerce',
                                     'government services'],
                        'location': 'Sri Lanka',
                        'type': ['government', 'businesses', 'consumers']}],
 'description': 'Sri Lanka’s cybersecurity landscape is under increasing '
                'strain as the country experiences a sharp rise in phishing '
                'and ransomware incidents. The Sri Lanka Computer Emergency '
                'Readiness Team (CERT) has reported a growing threat '
                'landscape, fueled by rapid digital adoption in banking, '
                'e-commerce, and government services. Business Email '
                'Compromise (BEC) attacks are also on the rise, further '
                'compounding the risks for organizations and individuals.',
 'lessons_learned': 'Cybersecurity must be treated as a strategic emergency '
                    'due to the escalating threat landscape, amplified by '
                    'generative AI and weak governance.',
 'post_incident_analysis': {'root_causes': ['weak governance',
                                            'low cybersecurity awareness',
                                            'rapid digital adoption without '
                                            'adequate security preparedness']},
 'references': [{'source': 'Sri Lanka Computer Emergency Readiness Team '
                           '(CERT)'},
                {'source': 'Cybersecurity Ventures'},
                {'source': 'MTI Consulting (Hilmy Cader, CEO)'}],
 'title': 'Surge in Phishing and Ransomware Attacks in Sri Lanka Amid Digital '
          'Growth',
 'type': ['phishing', 'ransomware', 'Business Email Compromise (BEC)'],
 'vulnerability_exploited': ['weak governance', 'low cybersecurity awareness']}