New Delhi: A report by Sonicwall states that India is set to experience a 31 percent increase in malware attacks in 2022, which should prompt companies to ramp up efforts to safeguard themselves against cyberattacks. The report also highlights a 10 percent increase in “intrusion attempts” and a 53 percent increase in “ransomware attacks” compared to the previous year.
In addition, the ‘2023 SonicWall Cyber Threat Report’ revealed a significant 116 percent increase in “crypto-jacking attacks” and an 84 percent increase in “IoT attacks”. SonicWall is a cyber security solutions provider based in the United States.
According to Debasish Mukherjee, Vice President – APJ at SonicWall, while malware attacks have decreased in other regions, they remain alarmingly high in India. He said that in countries like India, threat actors are expanding the scope of their attack, employing different methods and targeting different sectors. These threat actors constantly seek opportunities and strike again and again when they find success.
“The increase in cyberattacks in India can be attributed both to the evolving strategies of threat actors and to finding new avenues for success, including IoT and crypto-jacking.” He stressed that it was essential for organizations to understand the tactics, techniques and procedures (TTP) employed by attackers.
He added that by adopting threat-aware cyber security strategies, businesses can effectively prevent and recover from disruptive incidents. Mukherjee also highlighted SonicWall’s venture work, noting that the proportion of the business varies between countries. In India, 55 percent of SonicWall’s business comes from enterprise customers, while 45 percent comes from SMEs.
The company has over 500 employees in India, making it the second largest team across all sectors.
Mukherjee expressed optimism about a substantial increase in its hiring efforts as it expands its R&D facility in Bangalore. He added that organizations are constantly faced with an evolving threat landscape, where threat actors are finding new and creative ways to stay ahead of the enterprise.
Globally, the cyber security market has already crossed US$ 173.5 billion in 2022. It is projected to exhibit a compound annual growth rate (CAGR) of 8.9 percent to reach US$ 266.2 billion by the end of 2027.