• Ukrainian cyber security firm FS Group establishes presence across CEE and the Nordics
• The company has grown unprecedented experience while combating cyber warfare in the past two years
• This experience should be utilized across the region which remains under great threats of cyber attacks from aggressor countries

FS Group, a leading cybersecurity provider with over ten years of experience in investigating high tech crimes, is expanding strategically into Eastern Europe and the Nordics. Known for its robust threat intelligence and security solutions, the company aims to bolster regional cyber defenses. This move highlights FS Group’s commitment to enhancing cybersecurity across new European markets.

FS Group in a Nutshell

The Group specializes in cybersecurity, specifically in threat intelligence, cybercrime investigation, and business protection solutions. Founded in 2017, FS Group operates out of Odessa, Ukraine, and has earned a reputation for its expertise in cybersecurity threat analysis, OSINT (Open-Source Intelligence), and darknet monitoring. The company works closely with law enforcement agencies such as Europol and the FBI on advanced cyber investigations, including targeting transnational cybercriminal groups. FS Group offers a range of services, from cyber threat monitoring to vulnerability assessment, incident response, and forensic analysis.

‘When a cybercrime happens, experts focus on finding out where the attack came from and how it happened. FS Group uses digital forensic tools to search for malicious files on computers, figure out how they got there, and determine the scale of damage. They check logs, analyze malware, and determine what caused the breach. Once they know this, they fix the vulnerability, remove the malicious files, and write a report so that the organization can prevent potential future attacks. Moreover, our FS Group’s experts provide deanonymization of actors and Advanced Persistent Threats Actor Groups (APTs) showing links between them (if they were discovered) and providing forensic reports for the official investigation process for Cyber Police or other authorities,’ FS Group’s CEO Serhiy Yevchuk explains.

Internationally, FS Group collaborates with partners in various regions, including Europe and the US, to provide robust cybersecurity tools and solutions. The company joined the IT Ukraine Association in 2024, which enhances its engagement in shaping Ukraine’s cybersecurity landscape and expanding its reach across both the private and public sectors globally. Their services cater to businesses, government agencies, and SMEs, underscoring their slogan ‘Feel Secured Globally’ as they provide customized security solutions to combat modern cyber threats.

The Expansion

Building on strong partnerships and a proven ability to protect critical infrastructure, especially within Ukraine, FS Group now plans to extend its specialized expertise to new regions. This expansion underscores FS Group’s commitment to mitigating cyber threats in Eastern Europe and the Nordics. With a focus on regional resilience, the company aims to replicate its success in securing essential systems across these markets.

According to FS Group’’s CMO Valerie Kuzmenko, the expansion into Eastern Europe and Nordic Countries is a pivotal step in the company’s mission to fortify global cybersecurity. By bringing topnotch battle-tested expertise and leveraging a strong network of international partners, FS Group is poised to deliver products and services that meet the unique needs of these dynamic markets.

Cyber Security in the Region

The markets are indeed ripe for an upgrade in cyber security. German-Ukrainian Chamber of Industry and Commerce’s head of IT and cyber security Olga Voloshyna reminds that following Russia’s full-scale war against Ukraine in 2022, cyber attacks in Central and Eastern Europe have accelerated significantly, gaining geopolitical character. Many of these attacks can be traced to hacker groups that are supported by Russia, targeting governmental bodies, energy, transportation, and communication systems.

‘The use of artificial intelligence for generating disinformation and deep fakes allowed these attacks to reach a new, more threatening level. However, according to the ENISA Threat Landscape 2024 report, the most widespread types of cyber attacks include those well-known before: ransomware, malware, and denial of service. Implementing these attacks in combination have an even more devastating effect. That’s why these threats demand the governments and organizations in the region to strengthen cybersecurity measures and international cooperation,’ Ms Voloshyna adds.

CEE in particular faces cyber threats such as state-sponsored attacks by the aggressor, especially targeting critical infrastructure: energy, government, and transportation sectors. According to FS Group, countries in our region are often used as testing grounds for Advanced Persistent Threat Actor Groups (APTs) and are vulnerable to ransomware and phishing due to increasing digitalization and organizations not having enough tools and expertise regarding cybersecurity defenses.

In turn, FS Group’s response is customizable products and services that meet each market’s specific needs, considering its current cybersecurity situation, country-specific governmental regulations, and digitalization and political influences.

The Polish Case

Poland presents a particularly illustrative instance. In 2024, the country got ranked the most cyber-attacked country globally, with over 1,000 attacks per week targeting organizations.

‘The real war is at the Polish border. This means that cyberwar is also threatening. However, cybersecurity is not so evident for professionals because the front line is on the dark web, and it is not visible to ordinary people. The country’s external policy has to be alarmed by the level of epidemic or the current war to raise cybersecurity awareness and the awareness that Poland is actually the most cyber-attacked country, targeted by the aggressor for a long time,’ Mr Yevchuk tells ITKeyMedia.

Cyberattacks, often orchestrated by the aggressor governments, are aimed at destabilizing the country, according to Deputy Prime Minister and Minister for digital affairs Krzysztof Gawkowski. The lack of fully mature cybersecurity defenses makes government agencies, financial institutions, and critical infrastructure vulnerable to cyberattacks.

FS Group’s Response

FS Group is bringing its products and services, hardened and improved in the Russian-Ukrainian cyberwar, to close the skill and knowledge gaps and strengthen Polish cybersecurity posture against the new threats and offer a proactive approach to not only mitigate the consequences of cyberattacks but prevent them from happening.

Establishing a strong presence in the CEE region will allow for providing governments, critical infrastructure related threat intelligence products and services in cyber crime prevention, investigation, and resolution for organizations in countries that are especially vulnerable to cyberattacks, such as Poland.

‘We have mature cases of defending enterprise and government-level organizations during more than 10 years of the cyberwar, which is relevant to the current Polish cybersecurity landscape. FS Group has effective partnerships with local organizations, open to explore more into new partnerships and government agencies to ensure long-term protection against evolving threats,’ Ms Kuzmenko states.

It is clear that governmental structures and private businesses are growing to realize the actual danger of cyber attacks and their consequences – specifically financial losses and reputational damage – and are willing to budget to manage cybersecurity risks and mitigate them.

FS Group sees the rising demand for comprehensive cybersecurity services as an opportunity to expand the reach of its products and services to regions that lack resources for combating cyber threats in-house. In order to mature in cybersecurity defense, the company is willing to foresee and prevent cyber incidents and invest in threat intelligence, threat prevention, and cyber hygiene.