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Tag: Sundar Balasubramanian

India’s Healthcare Sector Battling 6,953 Weekly Cyberattacks: Report

India, June 28, 2024- Check Point Software Technologies Ltd., a leading AI-powered, cloud-delivered cyber security platform provider, has unveiled its latest Threat Intelligence Report for the Indian market revealing cyber numbers for the last six months. The report reveals that the Indian healthcare sector has become a major target for cybercriminals, experiencing an average of 6,935 cyberattacks per week over the past six months, compared to 1,821 attacks per organization globally. This alarming trend highlights the increased attack surface due to the rapid adoption of technologies such as electronic health records (EHRs), telemedicine, and Internet of Things (IoT) devices.

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The report also highlights that Indian organizations, on average, were targeted 2,924 times per week over the past six months, compared to 1,401 attacks per organization globally. The most prevalent malware in India is FakeUpdates, accompanied by other malicious software such as botnets and a Remote Access Trojan (RAT) named Remcos. Information disclosure is the most commonly exploited vulnerability in India, affecting 72% of organizations, followed by Remote Code Execution impacting 62%, and Authentication Bypass affecting 52%.

In the past 30 days, 63% of malicious files in India were delivered via email, while 37% were delivered through the web. Notably, 58% of the top malicious files delivered via email were executable files, while 59% of malicious files delivered via the web were PDF files.

Sundar Balasubramanian, Managing Director for India and SAARC at Check Point Software Technologies, commented, “The simplicity of spoofing email addresses and the capability to deliver weaponized content make email a powerful tool for spreading malware, stealing credentials, and executing social engineering attacks. Check Point urges users to avoid opening unverified email attachments, use strong passwords, enable multi-factor authentication, and exercise caution with unsolicited or suspicious emails.”

Balasubramanian emphasized the need for a proactive approach to cybersecurity, stating, “Preventive measures, such as regular software updates, employee training, and the deployment of advanced security solutions, are essential to mitigate the growing threat landscape. By staying vigilant and adopting a comprehensive security strategy, organizations can safeguard their assets and maintain the trust of their stakeholders.

The report also highlighted several major cyber-attacks and data breaches like

In March 2024, researchers uncovered a sophisticated cyber espionage campaign named SPIKEDWINE, targeting European diplomats through a malicious PDF disguised as an invitation from the Ambassador of India. This campaign, believed to be orchestrated by a nation-state actor, employs a previously undocumented backdoor called WINELOADER and advanced Tactics, Techniques, and Procedures (TTPs), exploiting geopolitical relations.

In January 2024, the ransomware-as-a-service group Medusa breached the nonprofit organization Water for People, which works to improve access to clean water in countries including Guatemala, Honduras, Mozambique, and India. The cybercriminals demanded a $300K extortion fee to avoid leaking stolen data, although the organization’s financial systems and business operations were not impacted.

In the same month, India’s National Aerospace Laboratories suffered a ransomware attack by the LockBit ransomware group, which leaked several documents allegedly exfiltrated during the breach.

In March 2023, an analysis revealed a campaign targeting Indian and Pakistani Android users through romance scams on messaging apps, which lured victims into downloading a remote access Trojan under the guise of a secure app.

Check Point Software solidifies India commitment; opens its second largest global Office in Bengaluru

India, 28th May, 2024: Check Point Software Software Technologies Ltd. , a leading AI-powered, cloud-delivered cyber security platform provider, announced the opening of its new office in Bengaluru, to meet the growing demands of industry customers looking for prevention-first security solutions within India. With a spacious layout spanning 42,700 square feet and capacity for over 350 seats, this new office is meticulously designed to foster protection and productivity. This office now stands as the company’s second largest globally, trailing behind its headquarters in Tel Aviv, Israel and underscores Check Point’s substantial investment and its unwavering commitment to India.

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In addition to its impressive dimensions, the new office is strategically designed to foster innovation, collaboration, and productivity. It features a customer experience center and AI Demo Zones, serving as interactive platforms where customers can explore and test cutting-edge security solutions tailored to their unique industry requirements. From hands-on demonstrations of advanced threat detection systems to simulated cyber-attack scenarios, these spaces empower customers to evaluate and implement robust security measures effectively. Furthermore, the office will deliver all of Check Point Software’s services across India, catering to customers nationwide.

Beyond modern workspace tools and cutting-edge connectivity solutions to enhance productivity and showcase the latest security technologies, employees can enjoy various facilities and amenities, including recreational areas, a game room, and a cafeteria, making it a hub for both productivity and protection.

The cyber security market in India is rapidly evolving, driven by the increasing sophistication of cyber threats. According to DSCI, the Indian cyber security market is expected to account for 5% of the global market by 2028. As per Check Point Software cyberattack statistics, an organization in India was attacked on average 2807 times per week in Q1 2024, demonstrating a +33% YoY change. This was the second highest in APAC region, necessitating advanced security solutions. According to Check Point Research, India is witnessing a significant surge in cyberattacks, with a 33% increase in weekly attacks in the first quarter of 2024, surpassing the global rise of 28%. As India progresses in its digital transformation journey, addressing these security challenges becomes increasingly critical.

“India is a strategic market for us in terms of talent and market potential. With the digitalization pace and ever-evolving cyber threat landscape in India, the region represents unprecedented business growth opportunities. The opening of our new office marks a pivotal moment for Check Point Software in India as this office will serve as a hub for innovation, supporting our mission to secure India’s digital future and addressing the increasing demand for robust cyber security solutions by investing in sales, go-to-market strategies and new technologies, incorporating AI into our next generation of cyber security solutions,” said Sundar Balasubramanian, India and SAARC Managing Director, Check Point Software Software Technologies.

He continued, “We recognize the importance of competent and skilled resources to helm operations, so we invest heavily in nurturing local cyber security talent by providing partners, customers and employees with cyber security skills and security awareness training, to stay secure at work and everywhere.”

As cyber security pioneers with over 30 years of service, Check Point Software, first set foot in India in 2003, with a modest office in Bangalore, steadily expanding to the current office. Embarking on a trajectory of growth, Check Point Software in India is set to inaugurate a new office in Chennai next month, in a strategic move aimed at expanding support for security partners and customers nationwide. Together with a dynamic ecosystem of over 600 partners in India, Check Point is a channel-driven company, recently launching its New Partner Program, designed to maximize partners’ potential and drive growth. This strategic initiative underscores Check Point Software’s commitment to both customers and partners as they collaboratively work to fortify the digital landscape.