A report reveals a significant surge in ransomware attacks in 2024, with India accounting for over half of the global phishing activity. The U.S. led in total incidents, while the business services sector was the most targeted. Key factors include the Ransomware-as-a-Service model and evolving threat tactics.
In a report by Check Point, a substantial increase in ransomware attacks is observed globally, with India responsible for over half of these incidents in 2024. The United States experienced the highest number of attacks, totaling 936 in the fourth quarter, while India recorded 44 incidents, ranking fifth. Canada, the United Kingdom, and Germany occupied the second, third, and fourth positions respectively.
The total number of ransomware attacks surged to 5,414 in 2024, reflecting an 11% increase from the previous year. Noteworthy is India’s role, which contributed more than 50% of the global phishing activity associated with these attacks. The business services sector emerged as the most targeted, suffering 451 attacks, followed closely by retail and manufacturing with 201 reported incidents in the last quarter.
The construction sector witnessed a dramatic 50% rise in ransomware attacks from 2023 to 2024, elevating it to fourth place in terms of frequency, surpassing financial, educational, and healthcare industries. The rise in ransomware activities can be attributed to several critical factors.
Notably, the emergence of Ransomware-as-a-Service (RaaS) has simplified the process for novice attackers to execute complex operations, with groups like RansomHub responsible for 531 attacks. Furthermore, the disruption of major ransomware groups has led to increased competition and innovation among smaller factions. Attackers are also adopting advanced tactics, targeting Linux and VMware ESXi systems and utilizing cloud applications for data theft, alongside harnessing artificial intelligence to improve attack effectiveness.
The escalation of ransomware attacks globally in 2024 highlights a concerning trend, with India significantly impacted. Factors such as the proliferation of Ransomware-as-a-Service and shifting tactics among threat actors underscore the evolving landscape of cybersecurity threats. The advancements in attack methods and the increase in targeted industries warrant heightened vigilance and strategic response measures.
Original Source: www.thehindu.com
