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India in the Crosshairs: Rampant Ransomware Attacks, AI Threats and Identity Breaches Loom Large in 2023! | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware

With 91% of Indian organizations falling victim to ransomware attacks in the past year, a dire forecast predicts 100% of them to suffer identity-related compromises in 2023. As businesses grapple with an increasingly turbulent cyber environment, insiders and AI-powered malware emerge as significant threats.

Updated Jun 16, 2023 | 05:30 PM IST

Ransomware Threats in India


  • 91% of Indian organizations experienced ransomware attacks in the past year, with the number expected to rise in 2023.
  • 100% of organizations are predicted to suffer identity-related compromises this year due to economic struggles and rising AI threats.
  • Internal threats and AI-powered malware emerge as significant cybersecurity concerns for 2023.

The relentless rampage of cybercriminals continues to terrorize Indian organizations. As per a shocking report from cybersecurity giant CyberArk, an astounding 91% of organizations have felt the cold blade of ransomware in the past year. But the nightmare doesn’t end there; the grim forecast for 2023 is that every single one of them is at risk of identity-related breaches!

Mounting Cyber Debt: The Price of Progress?

The incessant march towards technological innovation and the harsh economic realities form a deadly cocktail. Investments in digital and cloud initiatives are soaring, leaving cybersecurity spend in the dust. This widening gap has given birth to a looming menace – ‘cyber debt.’ The CyberArk 2023 Identity Security Threat Landscape Report suggests an alarming rise in unsecured identity-centric attack surfaces, a ticking time bomb in India’s cyber defense.

Double Whammy: Inside Threats and AI Menace

While the world grapples with the pandemic and the uncertain economic landscape, a new specter has risen on the horizon – the threat from within. Disgruntled ex-employees, mismanaged credentials, and workforce churn are emerging as severe security issues, with 80% of organizations bracing for such internal cyber upheavals in 2023.

On top of this, AI is no longer just a boon, it’s morphing into a bane. An alarming 61% of security professionals expect AI-enabled threats to infiltrate their organizations, with AI-powered malware topping the list of worries.

Doomsday Statistics: A Wake-Up Call for India

In a horrifying revelation, the report states that all Indian organizations expect an identity-related compromise this year, primarily due to economic cutbacks, geopolitical shifts, and increasing cloud adoption. Ransomware, once the terror of the cyber world, is still a potent threat, with the frequency of attacks rising from 70% to 91% in just a year. What’s worse, over half of the victims have been forced to pay the ransom twice or more!

The security threat extends to the software supply chain, with 92% of Indian organizations citing code/malware injection as a significant concern. Most worryingly, the report found that three-fourths of the identities in Indian organizations, both human and machine, are at high risk due to inadequate protection of sensitive access.

A Fight for the Future

In the face of such daunting challenges, resilience and vigilance are the need of the hour. CyberArk CEO Matt Cohen and regional director Rohan Vaidya call for organizations to adopt a risk-based strategy, consolidate operations, and invest in trusted partners and solutions. It’s time for India to secure its digital fortresses and weather the impending cyber storm.


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