Over 8 Million Cyberattacks Blocked In 4th Quarter 2022, 59% Websites In India Attacked: Report

There appears to be no check on rising cyber crime in India, with a new research report from Indusface claiming it analysed 1,400 applications and blocked 829 million cyberattacks in the fourth quarter of 2022.

About 59% of the websites attacked were in India, Indusface, a TCGF II (Tata Capital)-funded firm, said in its ‘State of Application Security Q4, 2022’ report.

Notably, Indusface claimed that nearly half of the cyberattacks were targeted on big firms while small businesses also did not escape the wrath of online thugs.

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“From a revenue perspective, mid-market companies with revenues between $10 million to $1 billion have been subjected to 45% of the cyber attacks and only 21% were large enterprises with over $1 billion in revenue. On the other hand, small businesses accounted for 34% of the attacks, implying that every business is at risk,” the firm said.

Indusface’s founder and CEO Ashish Tandon said in this quarter, the firm saw almost 20 applications of a healthcare customer get targeted by DDoS (distributed denial of service) attacks and also saw a SaaS (software as a service) application hit with a 2TB attack.

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“In both the cases, the attacks were quickly thwarted with Artificial Intelligence sending out anomaly alerts and a managed services team deploying surgical rules. By bundling managed services in the AppTrana WAF, we guarantee zero false positives. No wonder that 99% of applications on AppTrana are always in block mode,” Tandon said.

Custom Rules and Virtual Patching

According to the report, the ability to create custom rules has stood out as a key enabler of cyber security. On an average, each enterprise deploys 48 custom rules, and 60% of all attacks were blocked using them.

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The report also highlights the increased use of ‘virtual patching’ to protect applications at the Web Application Firewall level. DDoS attacks affected 32% of all apps during the last 60 days of the observation period.

Sectors and Countries Affected

The top three segments vulnerable to the attacks are banking, insurance, and other finance companies, followed by IT services and manufacturing companies. SaaS/IT products and Retail/e-commerce also have a decent representation of 9% each.

As far as the region is concerned, 59% of the websites are in India, followed by 23% in the US and Canada, according to the report.

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