Small businesses across the United States are increasingly becoming targets of cyberattacks originating from North Korea.
At the Aspen Security Forum, experts issued a stark warning that cyber threats are no longer limited to government agencies or large corporations.
(From left) Moderator David Sanger, journalist at The New York Times; Jenna Ben-Yehuda, Executive Vice President of the Atlantic Council; Rob Joyce, CEO of Joyce Cyber and former NSA cybersecurity director; and Johan Gerber, Executive Vice President of Security Solutions at Mastercard. [Photo courtesy of the Aspen Institute]
“Nation-state actors like North Korea are now launching sophisticated cryptocurrency-based cybercrimes and ransomware attacks that inflict real damage on the broader private economy,” said Johan Gerber, Executive Vice President of Security Solutions at Mastercard, during a cybersecurity session at the forum.
One of the key topics discussed at the forum was how to respond to the expanding scope of cyberattacks. There was growing consensus that cyber threats now affect more than just national security—they increasingly disrupt financial transactions, commerce, local economies, and even employment.
“Cyberattacks no longer follow geographic or political boundaries,” Gerber said. “Whereas motives for crime and geopolitics used to be distinguishable, the lines are now blurred, leaving even small businesses vulnerable.”
Indeed, back in 2018, several Korean American textile companies in the Los Angeles area were paralyzed by ransomware attacks. Hackers demanded tens of thousands of dollars to restore access to their systems.
Gerber cited alarming statistics: “Forty-six percent of small businesses around the world face daily cyberattacks, and 60% of those affected lack the capacity to recover—ultimately leading to permanent closure. This is no longer just a cybersecurity issue—it’s a matter of economic sustainability.”
To address this growing threat, panelists emphasized the need for greater cooperation between the public and private sectors.
Jenna Ben-Yehuda, Executive Vice President of the Atlantic Council, noted that smaller enterprises often lack the resources to take advantage of cutting-edge technologies like artificial intelligence (AI). “Collaboration within the private sector must broaden to ensure these smaller players aren’t left behind,” she said.
Rob Joyce, former Director of the NSA’s Cybersecurity Directorate and current head of Joyce Cyber, pointed to a talent gap within the government’s cybersecurity infrastructure.
“As federal agencies face downsizing, we’re seeing an exodus of skilled cybersecurity professionals,” Joyce said. “To maintain effective partnerships, we must ensure that talent doesn’t flow solely to the private sector—government agencies need robust cyber teams too.”
BY KYEONGJUN KIM [kim.kyeongjun1@koreadaily.com]
