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Indian cyberspace under threat from ransomware attacks: Kaspersky warns

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TLDR:

  • India detected over 2 lakh ransomware attacks in 2023.
  • Kaspersky warns of similar onslaughts in the future.

India is facing a growing threat of ransomware attacks, with Kaspersky detecting over 2 lakh incidents in 2023. Major ransomware groups such as Fonix and LockBit targeted organizations in various sectors like manufacturing, retail, agriculture, media, and healthcare. The evolution of ransomware attacks to include triple extortion poses financial and reputational risks to Indian companies. Kaspersky emphasizes the urgent need for stronger cybersecurity defenses through threat intelligence capabilities.

Research conducted by Kaspersky has consistently shown India to be among the top 12 targeted countries for Advanced Persistent Threats (APTs), highlighting the vulnerability of Indian cyberspace. The rise of Ransomware 3.0, which includes DDoS attacks, data reselling, and public blackmailing, increases the potential impact on businesses in India.

As the digital landscape in India evolves with Industry 4.0, the fusion of Threat Intelligence and Industrial Cybersecurity becomes crucial for safeguarding IT and OT systems against ransomware attacks. The increasing sophistication and frequency of these attacks underscore the importance of proactive cybersecurity measures to protect Indian businesses from cyber threats.

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