Phishing attacks surge in India: Zscaler report


India had the dubious distinction of being one of the top three most targeted countries for phishing scams in 2023, just behind the United States and the United Kingdom.

Zscaler’s Threat Labz 2024 Phishing Report revealed that the country witnessed a 60 percent increase in phishing attacks compared to the previous year, totaling over 79 million attempts in 2023.

The technology sector in India accounted for nearly 33 percent of all phishing attacks detected within the country. The finance and insurance sector globally experienced a 393 percent surge in attacks, highlighting the profound impact of digital financial reliance on threat exposure.

Sudip Banerjee, CTO of Asia Pacific & Japan at Zscaler, attributes this surge to India’s expanding digital infrastructure and widespread internet connectivity, facilitating extensive online financial transactions and as a result more sophisticated phishing campaigns.

Globally a significant surge in phishing attacks was highlighted with the United States recording the highest attacks at 1.1 billion attempts, followed by the United Kingdom at 112.9 million attacks.
The report, based on data from 2 billion blocked phishing transactions on the Zscaler Zero Trust ExchangeTM platform throughout 2023, underscores the escalating threat landscape faced by the digital ecosystem.

The research also identified Microsoft as the most impersonated enterprise brand in phishing attacks globally, with platforms like OneDrive and SharePoint also targeted due to their broad user base and associated credential value.

In response to these findings, industries across various regions are urged to enhance cybersecurity measures as manufacturing, services, and finance sectors globally experience rising phishing attempts, reflecting evolving tactics by cybercriminals to exploit digital vulnerabilities. As threats evolve, vigilance and proactive cybersecurity strategies remain imperative to safeguard against escalating phishing risks.

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