India has become a hot target for Ransomware in the Asia-Pacific and Japan region in 2022, according to a new report released by Palo Alto Networks. The report reveals that India has moved up from spot 3 in 2021 to become the second most targeted country in the region. This is a cause for concern, as Ransomware Attacks can have severe consequences, including financial losses and damage to a company’s reputation.

The Palo Alto Networks 2023 Unit 42 Ransomware and Extortion report states that Maharashtra was the most-targeted state with 36 per cent of ransomware attacks, while New Delhi was at second. This means that companies in these areas should take extra care to protect themselves against ransomware attacks.

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The report also highlights the industries that are most at risk of ransomware attacks. Manufacturing, construction, and professional & legal services are the most targeted industries. Companies in these industries should be particularly vigilant in their cybersecurity measures.

The most active ransomware groups identified in the report are Lockbit 2.0, BianLian, and Stormous. These groups have been responsible for a large number of ransomware attacks in the region.

Data theft is the most common tactic used by ransomware and extortion groups, according to the report. It mentions that 70 per cent of these groups used data theft as a tactic by late 2022, which is a 30 per cent increase from the previous year. This means that companies should be aware of the risks associated with data theft and take steps to protect themselves.

The report also reveals that organisations based in the US were most severely publicly affected by ransomware attacks, with 42 per cent of the observed leaks in 2022. Germany and the UK followed, accounting for nearly 5 per cent each. It is clear that ransomware attacks are a global problem, and companies around the world must take steps to protect themselves.

The report also mentions that 30 organisations on the Forbes Global 2000 list were publicly impacted by extortion attempts in 2022. Since 2019, at least 96 of these organisations have had confidential files publicly exposed to some degree as part of attempted extortion. This highlights the importance of implementing strong cybersecurity measures to protect sensitive data.

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