Rising cyberattacks from China on Indian companies |
Indian companies which were thriving till recently with digital technology are now worried due to the rise in cyberattacks from China. Experts have warned that the rapid spread of digital technology following the outbreak of the Coronavirus pandemic is leading to a rise in ransomware and phishing. India has been the worst-hit by ransomware in the Asia Pacific region this year, with 74% of companies coming under such attacks, compared to Australia (67%), Japan (52%) and Singapore (46%). More than a third of Indian organizations had paid $1-$2.5 million as a result of malware attacks in the last year. In India, ransomware, general malware, phishing, and password attacks are the major concerns for organizations, with 90% of them threatened by e-crime and 77% concerned by hacktivists, followed by insider threats. A majority of respondents feel most threatened by attacks originating from China (76%) followed by Pakistan (48%) and Russia (43%). The year 2020 has been especially challenging for organizations of all sizes around the world, with both the proliferation of ransomware and growing tensions from nation-state actors posing a massive threat to regions worldwide. Last week, online grocery Bigbasket suffered a massive data breach in which details of more than 20 million users may have been leaked on the dark web. Pharma companies named Dr Reddy`s Laboratories and Lupin have faced cyberattacks too.
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