"MSMEs in India: Battling Cyberattacks?"

Posted under: MSME
Date: 2023-09-06
"MSMEs in India: Battling Cyberattacks?"

Indian small businesses, including micro, small and medium enterprises (MSMEs) and startups, are facing a rising epidemic of ransomware attacks alongside other challenges. A 2022 study by NordLocker revealed that India is among the top countries targeted by ransomware attacks, with over half directed at small businesses. Ransomware groups now exfiltrate sensitive information, making backups inadequate. Cyber attacks on small businesses can occur during off-hours when IT teams need to be more vigilant. Experts stress the need for early investment in cybersecurity as these businesses often lack robust security, making them more vulnerable. MSMEs are vulnerable to cyber attacks due to a lack of resources, legacy tech, and evolving threats. A robust cybersecurity strategy, including prevention and early detection, is essential to protect against attackers and ensure quick recovery.

Read more at: www.businessworld.in