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Report: Ransomware rises as primary cyber threat in India

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Ransomware emerged as top cyber threat in India: Report

Ransomware and malware have emerged as the top cyber threat of 2024 in India, with 42 per cent IT and security professionals identifying them as the fastest-growing type of threat, according to a new report by Thales. Cloud assets are the primary targets for such attacks, with 11 per cent of respondents falling victim to a ransomware attack in the last year.

The report surveyed nearly 3,000 IT and security professionals in 18 countries across 37 industries. Despite ransomware being ranked as the top growing threat in the country, only 20 per cent of respondents have a formal ransomware plan in place. Human error remains the leading cause of data breaches, with 34 per cent of enterprises pinpointing this as the root cause.

“With data privacy regulations continually changing in India and across the world, enterprises need to have good visibility across their organization to stand any chance of staying compliant,” said Ashish Saraf, Vice President and Country Director, Thales in India. The report also mentioned that 93 per cent of IT professionals globally believe security threats are increasing in volume or severity, a significant rise from 47 per cent last year.

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“If there is one key takeaway from this year’s study, it is that compliance is vital. Respondents that had a good hold over their compliance processes and passed all their audits were also less likely to suffer a breach,” Saraf added. With the evolving landscape of cyber threats, it is crucial for organizations to prioritize cybersecurity measures and stay updated on the latest trends to ensure data protection and compliance.

IANS, established in 1986, is India's largest independent news service, offering 24x7 news from India and South Asia, and a preferred source for diverse content across six business verticals.

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