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India has witnessed a significant rise in ransomware attacks in 2024, with organizations facing an average of 665 ransomware attempts daily, according to the latest findings from Kaspersky.
Ransomware, a type of malicious software, blocks access to computer systems or encrypts data until a ransom is paid. These attacks have targeted both individuals and corporations.
Between January and December last year, Kaspersky solutions used in Indian businesses detected and blocked a total of 243,548 ransomware attacks.
Adrian Hia, Managing Director for Asia Pacific at Kaspersky, commented, “Ransomware groups targeting Indian organizations spare no sector. From small banks to critical state infrastructure, history shows that India is facing a relentless surge in ransomware attacks aimed at businesses, banks, and public services. Institutions and companies must implement stronger defenses to protect their critical data.”
The most common type of ransomware in India last year was Trojan-Ransom.Win32.Wanna.m, which modifies data on the victim’s computer, making it unusable or preventing the computer from running correctly.
Once the data is “taken hostage” (blocked or encrypted), the user receives a ransom demand, which instructs them to send money to the cybercriminal in exchange for a program to restore the data or computer performance.
Adrian Hia added, “Ransomware groups continue to refine their tactics, exploiting known vulnerabilities and using advanced tools like Meterpreter and Mimikatz to gain unauthorized access. They target internet-facing applications, manipulate local accounts, and evade endpoint defenses, demonstrating a sophisticated understanding of network weaknesses. The ongoing threat emphasizes the urgent need for robust cybersecurity defenses as adversaries continue to innovate and exploit familiar vulnerabilities.”
To mitigate the risk of ransomware attacks, individuals and organizations should prioritize cybersecurity measures, including:
- Using robust, properly-configured security solutions like Kaspersky NEXT.
- Implementing Managed Detection and Response (MDR) to proactively seek out threats.
- Disabling unused services and ports to minimize the attack surface.
- Keeping all systems and software up to date with regular updates and patches.
- Conducting regular penetration tests and vulnerability scanning to identify and address vulnerabilities promptly.
- Providing comprehensive cybersecurity training to employees to raise awareness of cyberthreats and best practices for mitigation.
- Establishing and maintaining regular backups of critical data and testing backup and recovery procedures regularly.
- Using Threat Intelligence to track the latest tactics, techniques, and procedures (TTPs) used by groups and adjusting detection mechanisms to catch these.
- Paying special attention to any “new” software being run and installed on systems within the network, including legitimate software.
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