As per Zscaler ThreatLabz’s 2024 Ransomware Report, India was identified as an important target for ransomware attacks in the Asia Pacific and Japan area, coming in second place in terms of successful attacks. The study, which covers ransomware rates from April 2023 to April 2024, found a rise in ransomware attacks all over the world, underlining the growing risk that these attacks present to key sectors.

A ransomware attack: what is it?

One kind of virus attack is a ransomware attack. Users cannot to use their files, systems, or networks as a result. Hackers request a ransom fee as a price for recovering control over computers.

The three most popular methods used to carry out ransomware attacks are usually phishing, Remote Desktop Protocol (RDP), and password fraud. But there are many ways for criminals and hackers to take benefit of various software weaknesses.

Ransomware attacks have risen by eighteen percent globally.

Around the world, ransomware attacks have increased by eighteen percent every year, and a record seventy million dollars has been given in ransom to the Dark Angels ransomware group. This sum is nearly two times as much as the largest pay that has ever been made public. Scientists believe that this record payment will encourage other criminals to use similar methods, increasing the danger to businesses globally.

More AI-related actions take place in Asia Pacific alone than in any other area, including Europe, West Asia, and Africa (EMEA). Hackers see India as a good target due to the country’s outstanding growth in infrastructure and digital transformation, for example in the areas of artificial intelligence (AI) and machine learning (ML).

In India, successful ransomware attacks decrease

In India, there were practically similar numbers of successful attacks using ransomware with the increasing level of attacks. Between 2023 and 2024, there were 60 attacks, a little a decline from the 62 events in 2023. But as AI-powered attacks become more regular, India’s digital protection are becoming weaker, which is why requests for stronger cybersecurity are growing.

Ransomware attacks the production sector

According to the Zscaler research, around two thirds of ransomware situations occur in India’s industrial sector, making it the most attacked industry. Pharmaceuticals, technology, healthcare (8.89%), and financial services (8.89%) are some of the other important sectors facing risks.

India’s main types of ransomware

Top ransomware families working in India were also identified by the look at; LockBit made up 23.33 percent of attacks, followed by BianLian (16.67 percent), BlackCat (11.67 percent), 8Base (10 percent), and Mallox (5 percent). In India and around the world, LockBit continues to be a major role, however newer organizations such as Dark Angels will likely pose problems in the future.

The growing popularity of ransomware as (RaaS), zero-day attacks on old systems, and AI-driven methods were all mentioned in the research as major factors adding to the a rise in crime. The chief security officer of Zscaler, Deepen Desai, stressed the importance of Zero Trust safeguards in the battle over ransomware. He warned that in order to lower risks and stop major incidents, organizations need to give importance to these designs.

“A Zero Trust platform like Zscaler plays an important part in reducing risks, lowering the effect of violates, and blocking potential attack methods, particularly as AI-powered attacks becoming more common,” Desai said.

It is clear that businesses need to improve safeguards as ransomware attacks keep growing globally, with India ranking as the second most targeted country in the Asia Pacific area. Because industries like technology, manufacturing, and pharmaceuticals are particularly at risk, having strong cybersecurity solutions is important. The growing effectiveness of attacks with ransomware due to AI-powered methods made old protections useless. Using advanced Vulnerability Assessment and Penetration Testing (VAPT) services, organizations must take the lead in order to find and fix risks before they are taken advantage of. Indian Cyber Security Solutions provides specialized VAPT services that help companies in staying ahead of constantly changing online dangers. By putting cybersecurity measures in place and setting up Zero Trust frameworks, you can protect your company’s sensitive data from the harmful impacts of ransomware attack.

FAQ’s

1. How does ransomware work and what is it?

Risky software that sets limits on the use of files, systems, or connections is known as blackmail. Hackers, who often take benefit of flaws through phishing, Remote Desktop Protocol (RDP), or password fraud, demand a ransom to release the system.

2. Which fields are the most commonly damaged by ransomware in India?

Two thirds of ransomware happenings in India are in the industrial sector, which is the most often attacked industry. The pharmaceutical, technology, healthcare, and financial services industries are among the other subject sectors that are becoming at risk for ransomware attacks.

3. What global changes have you seen in the ransomware attack currently popular?

Worldwide ransomware attacks have increased by 18%, and record ransoms—such as the seventy million dollars paid to the Dark Angels organization—have been paid. Businesses worry about this increase, which underlines the need for improved cybersecurity measures.

4. What makes India a popular target for ransomware attacks?

Hackers are attracted to India because of the country’s rapid digital change, mainly in the areas of AI and machine learning. Its rapidly growing infrastructure makes it a popular target and improves the risk that ransomware attacks will be useful.

5. How can organisations protect themselves from a virus?

To find risks as soon as possible, companies should spend money on expert vulnerability assessment and penetration testing (VAPT) programs. To decrease the dangers related to ransomware attacks, it is important to improve safeguards and set up a Zero Trust design.

Conclusion

In conclusion, India is the second highest-risk nation in the Asia Pacific region according to Zscaler ThreatLabz’s 2024 Ransomware Report, which underlines the country’s increasing risk to ransomware attacks. Businesses in industries including manufacturing, healthcare, and technology must focus on cybersecurity due to a significant rise in ransomware cases worldwide and the clear pattern towards AI-driven methods. A plan of action is required due to the rate of advanced attacks, such as putting Zero Trust frameworks and Vulnerability Assessment and Penetration Testing (VAPT) services into place. Organizations can create a more safe digital future by investing in strong cybersecurity solutions that will protect the information they share, reduce risks, and protect them from the potentially disastrous effects of ransomware attacks.