Kaspersky Warns of Ongoing Ransomware Threats to Indian Cyberspace

Kaspersky alerts of persistent ransomware threats to India, with over 200,000 attacks recorded in 2023.

  • Kaspersky alerts of persistent ransomware threats to India, with over 200,000 attacks recorded in 2023.
  • Major ransomware groups like Fonix and LockBit target Indian organizations across various sectors.
  • Importance of enhancing cybersecurity defenses highlighted to combat evolving ransomware tactics.

Kaspersky, a leading cybersecurity firm, has issued a warning regarding the ongoing threat of ransomware attacks in India. With over 200,000 recorded incidents in 2023 alone, the country remains vulnerable to cyber threats. Notably, India consistently ranks among the top 12 targeted countries for Advanced Persistent Threats (APTs), according to Jaydeep Singh, General Manager for South Asia at Kaspersky.

Major ransomware groups such as Fonix and LockBit continue to target organizations across multiple sectors, including manufacturing, retail, agriculture, media, and healthcare. Despite claims of closure, Fonix persists as a Ransomware-as-a-Service (RaaS) malware, while LockBit has expanded its reach to infect both Windows and Apple systems.

Singh highlighted the evolving nature of ransomware attacks, transitioning from basic encryption to triple extortion tactics, including distributed denial-of-service (DDoS), data reselling, and public blackmailing. These attacks pose significant financial and reputational risks to Indian companies, underscoring the critical importance of enhancing cybersecurity defenses.

In response to the growing threat, Kaspersky emphasizes the fusion of threat intelligence and industrial cybersecurity as essential components in safeguarding India’s digital landscape. Arun Gantayat, Kaspersky’s Head of Presales for South Asia, stresses the necessity of proactive measures to mitigate the impact of ransomware attacks on IT and operational technology (OT) systems.