New Delhi: Over 91 percent of Indian organizations experienced ransomware attacks in 2022, while 55 percent of affected organizations reported paying twice or more to allow recovery, information security company CyberArk said on Sunday. It turned out that they were victims of double extortion campaigns.
CyberArk said in its report that Indian organizations will experience rising cyber debt in 2022, where security spending lagged behind investment in broader digital business initiatives during the pandemic period. ,Also read: From Apple to Harley-Davidson: The first offices of the world’s most prestigious companies will surprise you,
In 2023, cyber debt levels are expected to increase as a result of the economic downturn, increased staff turnover, declining consumer spending, and an uncertain global environment. ,Also read: 10 Most Common Names In India That Will Surprise You,
Rohan Vaidya, Regional Director, India and SAARC, CyberArk, said, “New environments create new identities and as a result, identity compromise is the preferred method for attackers to circumvent cyber security and gain access to critical data and assets. Will be.”
Furthermore, the report revealed that all (100 percent) of organizations in India expect identity-related compromises this year, stemming from economically driven cutbacks, geopolitical factors, cloud adoption, and hybrid working.
Nearly 84 percent said this would happen as part of a digital transformation initiative such as cloud adoption or legacy app migration.
Nearly 61 percent of security professionals expect AI-enabled threats to affect their organization in 2023, with AI-powered malware cited as the top concern.
Furthermore, the report states that nearly 92 percent of organizations feel that injecting code/malware into their software supply chain is one of the biggest security threats their organizations face.
“Business transformation, driven by digital and cloud initiatives, continues to result in an increase in new enterprise identities,” said Matt Cohen. While attackers are constantly innovating, compromising identities to circumvent cyber security and access sensitive data and assets It’s the most efficient way to do it.” , Chief Executive Officer, CyberArk.
Credential access remains the number one risk for respondents (cited by 45 percent), followed by defense theft (34 percent), execution (34 percent), early access (31 percent) and privilege escalation (26 percent).