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Banking and Insurance sectors worst hit by ransomware in India

Cyber Security Privacy Foundation Pte. Ltd , a Consulting, Services and Training Company based in Singapore had released a chart on Saturday...


Cyber Security Privacy Foundation Pte. Ltd, a Consulting, Services and Training Company based in Singapore had released a chart on Saturday (April 30) showing how much amount of each sector hit by ransomware in India.

Ransomware is a malware which restricts access to the infected computer system in some way, and demands ransom from the user to remove the restriction.

The consulting company which has its non profit branch operating in India took into account the dataset of 60 companies all over India and found that banking and Insurance sectors were the worst hit by ransomware by 30 percent each.

Pharmacy sector stands second with 20 percent of attacks and the least affected is manufacturing sector among other sectors with 10 percent attacks each.

The database all showed that maximum numbers of computing devices were hit by the attacks in insurance sector which stood at 10 devices while eight devices of banking sector and three of pharmacy firms were affected by ransomware attacks.

The companies taken as a sample had all the standard defenses including antivirus, firewall and other measures still the ransomware succeeded in harming the sectors.


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