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India Inc third most targeted by malware attacks after US and Japan, report

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  • Around 56% of the companies reported a significant increase in IT expenditure to prevent the attacks
  • The report forecasts that attacks targeting remote workers are going to increase in 2021, ransomware attacks will get more automated and managed service providers will become more valued targets

Companies in India faced the third highest number of malware attacks after the US and Japan between March and December quarters, according to the latest cyberthreat report by Acronis, a Switzerland based IT and cybersecurity company. A total of 1168 malware attacks were detected per 1000 clients in a month in India during this period.

India also recorded the highest rates of video conferencing attacks with 66% of local companies being targeted by them, while 62% said they were overwhelmed with phishing attacks.

Around 56% of the companies reported a significant increase in IT expenditure to prevent the attacks. According to the report, the increase was twice the global average.

Several Indian organisations including Indian pharmaceutical company Dr Reddy’s, which is working on Russia's Sputnik V covid-19 vaccine, was hit by a malware attack in October. Edtech firm Whitehat Jr and grocery e-tailer Bigbasket also reported data breaches recently.

"Year 2020 posed a tremendous number of challenges to IT professionals, organizations, and the service providers who support them. What we’ve seen is how quickly bad actors are adjusting their attacks to the new IT landscape," Stas Protassov, co-founder and Technology President, Acronis, said in a statement.

Further, the Acronis report shows that ransomware detections in India increased by 7.8% in the September quarter alone.

Ransomware attacks have increased since the pandemic as per various other cybersecurity firms. Check Point Research detected a 50% increase in daily average of ransomware attacks in India in September quarter as compared to the first half of 2020. US with 98% increase in attacks was the only country that was ahead of India.

“When it comes to existing solutions and strategies, the current trends in cyberattacks all show that traditional cybersecurity is failing – globally and in India, it’s usually because of weak technologies and human error, which are both avoidable," Rajesh Chhabra, global business development leader of Inside Sales, Acronis said in a statement.

The report forecasts that attacks targeting remote workers are going to increase in 2021, ransomware attacks will get more automated and managed service providers will become more valued targets.

ABOUT THE AUTHOR

Abhijit Ahaskar

Abhijit writes on tech policy, gaming, security, AI, robotics, electronics and startups. He has been in the media industry for over 12 years.
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