India reported the second highest number of cyber attacks after Japan in the Asia-Pacific region in 2020, according to the annual IBM X-Force Threat Intelligence Index. According to this report, India accounted for 7 per cent of all cyber-attacks observed in Asia in 2020.
The report added, "Finance and insurance was the top attacked industry in India (60 per cent), followed by manufacturing and professional services."
Ransomware is the topmost cyber attack threat comprising 23 per cent of the attacks. Sodinokibi (REvil) ransomware alone made minimum profits worth $123 million, as per the IBM report. Besides this, digital currency and server access attacks also affected Indian companies last year.
India/South Asia security software technical sales leader Sudeep Das told news agency IANS, "We also witnessed cybercriminals using relief efforts and public health information as spam lures including targeted attacks on critical components of the vaccine supply chain. These all remain issues in 2021."
Besides this, Europe has experienced more attacks in the year 2020 than any other region, with ransomware emerging as the top culprit. Europe also reported twice as many insider attacks as North America and Asia combined in the year 2020.
The IBM X-Force Threat Intelligence Index has been formed on the basis of insights and observations after evaluating more than 150 billion cyber security events across over 130 countries.
With agency inputs; by Mehak Agarwal