Indian firms facing over 3,200 cyber attacks per week

From April to June, there was a staggering 46% increase in cyber-attacks in India, compared to the previous quarter, according to a recent report by Check Point Software Technologies published on Thursday.

The report highlights that an organisation in India faced an average of 3,200 attacks per week in this quarter, as against the global average of 1,636 attacks per week, (during that period) making it one of the most targeted nations worldwide and second highest in APAC, only behind Taiwan.

The report shows that cyber-attacks are increasing worldwide, with a 30% increase in weekly attacks on corporate networks in Q2 2024 compared to Q2 2023, and a 25% rise compared to Q1 2024.

Security researchers at Checkpoint emphasized that the continuous wave of attacks highlights the escalating sophistication and persistence of threat actors, with various cyber-threat trends occurring simultaneously.

The 2024 Thales Data Threat Report by 451 Research, released in March, also reflected similar patterns with 10% of IT security leaders in India reporting ransomware attacks in the past year, and only 20% of businesses having a formal ransomware strategy. 

The report also highlighted the education and research sectors as frequent targets for cybercriminals due to their wealth of sensitive data and inadequate cybersecurity measures, compounded by various groups of online users within and outside the network expanding the attack surface. 

Additionally, healthcare, manufacturing, BFSI, and government sectors continue to be prime targets for cybercriminals.

Lena Smart, Chief Information Security Officer (CISO) at MongoDB, stressed the importance of enhancing enterprise security posture. “Simple steps such as ensuring regular backups of critical data and developing comprehensive incident response plans can help address and mitigate the impact of attacks,” she said, adding that Multi-layered security measures, including firewalls and endpoint protection, are essential

Smart also noted that companies can expect more regulations to come in the coming months, which means that we have to be almost continuously monitoring our organisation’s network and systems.

Mignona Cote, cyber-security evangelist and Chief Security Officer at NetApp stressed on adequate employee training and awareness. “Regular training sessions can educate employees about the latest cyber-threats and phishing tactics, fostering a culture of vigilance,” she said.

Check Point researchers also see organisations must take proactive steps to safeguard their data and systems. The security vendor stresses on adopting Zero Trust Architecture and network segmentation that isolate critical systems to limit the spread of attacks and protect sensitive information.