India has seen a significant rise in ransomware attacks, with 156,917 incidents reported in the first half of 2024, according to Kaspersky’s latest cybersecurity report. This marks a 24% increase compared to the same period in 2023, highlighting the growing threat to businesses and companies across the country.
Kaspersky’s data reveals that sectors like healthcare, financial services, manufacturing, and government agencies are the primary targets. High-profile cases include attacks on India’s largest health insurer, a major electricals and cable manufacturer, and a technology service provider for rural banks. These sectors have become prime targets due to their critical nature and reliance on sensitive data.
The rise in attacks is attributed to the rapid adoption of digital technologies without corresponding investments in cybersecurity infrastructure. Prominent ransomware groups like LockBit, Conti, Hive, BianLian, and BlackCat are primarily behind these attacks. Their tactics include data theft, extortion, and service disruptions, often demanding large ransoms to restore access to encrypted systems.
To mitigate the growing risk, experts recommend these key measures for businesses:
- Keep software up-to-date to avoid exploitation of known vulnerabilities.
- Install patches for VPN solutions and ensure remote work access is secure.
- Backup data regularly and ensure easy recovery in case of an attack.
- Educate employees about phishing and cybersecurity best practices.
