Indusface’s Annual State of Application Security Report 2023 sheds light on the alarming surge of cyberattacks on Indian enterprises, reaching a staggering 5.14 billion. The report underscores a significant quarterly spike of 63% from the first to the fourth quarter of 2023, emphasizing the critical need for robust cybersecurity measures. Specific vulnerabilities in various industries are revealed, with the healthcare sector facing 100% of sites encountering bot attacks and the banking, finance, and insurance industry witnessing a 90% threat rate.
SaaS companies in India have become prime targets for cybercriminals due to the valuable customer data they possess, experiencing a tenfold increase in cyberattacks. The retail and e-commerce sectors were also susceptible, particularly to carding attacks, reflecting the breadth of cyber threats across industries. The report delves into the origins of cyberattacks, revealing contributions from the United States, the United Kingdom, Russia, Germany, and Singapore.
Distributed Denial of Service (DDoS) attacks recorded a notable 46% increase each quarter, culminating in over 4.25 billion attacks in 2023. Despite the prevalence of DDoS threats, the report notes that over 39% of enterprises express uncertainty regarding their ability to thwart large-scale attacks. Indusface CEO, Ashish Tandon, highlights the evolving threat landscape, pointing out the rise of bad bots, and emphasizes the effectiveness of AI-human collaboration in mitigating complex attacks. The report also provides insights into vulnerability categories, zero-day vulnerabilities, and mitigation strategies, emphasizing the imperative for proactive cybersecurity measures.
