Adrian Johnson
TLDR:
- Ransomware attacks have surged in India, with reports indicating a rise in attacks on companies across sectors.
- Companies like Polycab, Motilal Oswal, and Bira91 have been recent targets of ransomware groups like LockBit and BianLian.
India is facing a significant increase in ransomware attacks, with reports suggesting a surge in cyber-attacks on companies, particularly in the manufacturing sector. Recent incidents have targeted prominent organizations like Polycab, Motilal Oswal, and Bira91, highlighting the growing threat of ransomware groups like LockBit and BianLian.
Polycab, India’s largest wire and cable maker, and Motilal Oswal, a leading brokerage firm, were hit by the LockBit ransomware group, with no impact on core operations reported. Similarly, Bira91, an Indian craft beer brand, faced an attack by the BianLian group that claimed access to sensitive data.
These incidents underscore the vulnerability of Indian businesses to ransomware attacks, with the manufacturing sector being a prime target due to limited security measures in place. The lack of a comprehensive cybersecurity plan and inadequate network monitoring further expose companies to cyber threats.
Experts warn against paying ransom demands, as it only fuels the ransomware market and can result in financial losses without guaranteeing data recovery. The absence of disclosure laws in India adds to the challenges faced by companies, leaving consumers unprotected in the event of a data breach.
To combat the rising cyber threats, industry leaders emphasize the need for stronger regulatory frameworks and accountability measures to enforce data protection. Companies are urged to prioritize cybersecurity investments and adopt proactive security strategies to safeguard against ransomware attacks.
