Ransomware threats more than doubling every year

This alarming trend highlights the growing sophistication and impact of ransomware attacks, posing a significant threat to businesses and individuals alike. The rise of ransomware is fueled by several factors, including the increasing availability of ransomware-as-a-service (RaaS) offerings, the rise of cryptocurrency, and the growing sophistication of attackers. Ransomware-as-a-service (RaaS) is a business model where attackers can rent out ransomware tools and infrastructure to other malicious actors.

a) Data Protection: A Cultural Imperative
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b) Data Protection:

Mr. Eswaran, a prominent figure in the data protection field, delivered a talk at VeeamOn Tour India 2024, a gathering of data recovery experts in Mumbai. He emphasized the importance of data protection as an organizational cultural issue, arguing that all employees in every country should be proactive in addressing this matter.

The paper explores the motivations, tactics, and techniques used by ransomware actors, as well as the impact of ransomware attacks on organizations and individuals. It also examines the legal and regulatory frameworks surrounding ransomware attacks, and provides recommendations for mitigating the threat. **Key Points:**

* **Ransomware Landscape:** The white paper provides an in-depth analysis of the current ransomware landscape, highlighting key trends and emerging threats.

“Veeam is committed to providing the solutions and strategies needed to combat these threats. Our latest white paper provides a comprehensive roadmap for boosting cyber resilience and ensuring business continuity,” he added. “Having a hardened backup strategy and implementing robust data protection and recovery measures as outlined in the white paper, reduces the risk of ransomware attacks and safeguards organisations’ critical data assets,” he said further. In response to rising digital threats, the Centre has enacted the Digital Personal Data Protection Act, 2023, which introduces stringent data protection measures for public and private entities, enhancing India’s cyber resilience. The DPDP Act emphasises data minimisation, purpose limitation, and storage limitation – key principles for mitigating ransomware risks. It also mandates robust security measures, regular impact assessments, and prompt breach notifications. By integrating these requirements, the Act not only protects personal data, but also positions India as a leader in digital innovation and responsible data governance, the company said.

The white paper also addresses the threat of Ransomware-as-a-Service (RaaS), where cybercriminals rent ransomware infrastructure to conduct attacks. Notable RaaS operations like Conti, Lockbit, and Black Basta highlight the growing sophistication and commercialisation of cybercrime. The company, which competes with Veritas, Dell, IBM and the new upstarts like Rubrik and Cohesity, has announced to expand its operations in India. “India is a key market for us. India is accelerating in growth. While our company is growing closer to 17 to 20%, our India business is growing at 45% plus. So India is among the top three countries in the world in terms of growth percentage for me, the CEO said.

* **India: The Next Frontier for Global Business**
* **Investing in India:

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A business executive expressed his excitement about investing in India. He emphasized that the investment is not just about supporting Indian customers and the Indian government, but also about expanding the company’s business operations in the country. He highlighted the potential for a wide range of products and services to be offered from India.