India is an emerging economy with extensive cyberinfrastructure in place, with the prospects of growth over a long period of time. Businesses all over the world are aware of that but so are the cybercriminals. According to a report compiled by an international IT security firm on the cybersecurity overview of the country, more than 26 million cyber attacks were sustained by Indian enterprises during the third quarter of this year.
As per the report, nearly 40% of cyber attacks were attempted on companies dealing in IT and IT-enabled services. Manufacturing and education sectors have also borne the brunt of increased cyber attacks in the Q3 of 2018.
Ransomware: The Leading Cyber Threat in India
Apart from adware, exploits, crypto malware and PUAs, ransomware is one of the leading weapons used by cybercriminals in India. The recent prevalence of cryptovirological attacks in the country has also highlighted the importance of honing ransomware removal expertise for cybersecurity experts.
Ransomware has been a leading cyber threat in the US and Europe for quite some time. However, this report suggests that cryptovirological operators are also trying to get the most out of the largest cyber landscape in Asia. There are high chances for cryptovirological operators in India succeeding in getting extortion money for providing a ransomware removal key. One of the leading reasons is that the majority of Indian enterprises haven’t standardized their data backup maintenances. Cloud services are being used in the Indian market, but it is still not an established norm. It is worth mentioning that data backups are considered one of the most effective ways to neutralize ransomware threats.
Apart from lack of routine backing up of data, ransomware removal expertise in India is also not at par with the European and US market. A company with no backups and ransomware removal expertise can’t recover its data apart from yielding to the demands of the attackers.