Ransomware attacks continue to loom large over Indian cyberspace: Kaspersky

India, which detected over 2 lakh ransomware attacks in 2023, is likely to see similar onslaughts, cyber security firm Kaspersky said on Wednesday.

Kaspersky General Manager for South Asia Jaydeep Singh said researches conducted by the firm have shown that India is consistently among the top 12 targeted countries and territories for Advanced Persistent Threats (APTs).

"For three years in a row, file encryption has been the top problem faced by enterprises and organisations worldwide and in India. From the basic ransomware attacks like the Wannacry in 2017, we have reached the era of Ransomware 3.0 where we see triple extortion in the form of distributed denial-of-service (DDoS), reselling of data, and public blackmailing.

"This form of attack has a wider impact on the financial and reputation aspect of Indian companies," Singh said. Kaspersky claims to have detected over 2 lakh ransomware incidents on businesses in the country in 2023.

According to the company, major ransomware groups such as Fonix and LockBit targeted global as well as Indian organisations in various sectors, including manufacturing, retail, agriculture, media, and healthcare.

Singh said amid the evolving threat of ransomware against the IT and OT systems in India, Kaspersky highlights the urgent need for stronger cybersecurity defences through deploying threat intelligence capabilities.

Kaspersky Head of Presales for South Asia Arun Gantayat said, "In the digital landscape of India, where Industry 4.0 converges with traditional manufacturing, the heartbeat of progress lies in the fusion of Threat Intelligence and Industrial Cybersecurity," Gantayat said.