Cyber Threats To Indian Healthcare Sector Highlighted As Sun Pharma Hit By Ransomware Attack

 

Cyber Threats To Indian Healthcare Sector Highlighted As Sun Pharma Hit By Ransomware Attack

Sun Pharmaceutical Industries, India's largest drugmaker, has experienced a ransomware attack that has impacted the company's revenues. According to a stock exchange filing, the drugmaker confirmed that a ransomware group has claimed responsibility for the incident, which resulted in the breach of certain file systems and the theft of certain companies and personal data. The company stated that it has proactively isolated its network and initiated the recovery process as part of the containment measures. However, its business operations have been affected, and some of its business revenues are expected to be reduced.


Sun Pharma initially reported the ransomware attack on March 2, indicating that it did not affect its core systems and operations. However, the company is presently unable to determine other potentially negative effects of the incident. As a result, it anticipates incurring expenses concerning the incident and remediation. Following the announcement of the ransomware attack, shares of Sun Pharma opened in the red in Mumbai trading. However, it recovered losses and was trading at 980.30 rupees, up 0.8%, on the Bombay Stock Exchange (BSE) at 9.40 am. The BSE Sensex was up 0.4%.


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The healthcare industry is the most targeted sector in India, followed by education, research, government, and the military. Healthcare experienced the highest number of attacks among all sectors in India, with an organization in India being targeted 1,866 times per week on average in 2022. In 2022, global cyber attacks increased by 38% YoY.


The incident at Sun Pharma comes amid rising threats of such attacks on the Indian healthcare sector. Companies in the sector must continue to take proactive measures to safeguard their IT systems and personal data from cyber-attacks, which can have severe consequences.


The Sun Pharma ransomware attack serves as a stark reminder of the increasing threat to India's healthcare sector, which has witnessed a surge in cyber attacks in recent years. According to reports, the healthcare sector is a high-value target for cybercriminals due to the sensitive information it possesses, including patient data, research data, and intellectual property.


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In response to these attacks, Indian healthcare companies must take proactive measures to protect their systems and data. Some of the recommended measures include regular vulnerability assessments and penetration testing, ensuring timely security patches and updates, and employee training on cyber security best practices.


Moreover, healthcare companies must also implement robust incident response plans to enable quick and efficient responses to potential cyber-attacks. This includes having a well-defined incident response team and a clear communication strategy in case of a security breach.


In conclusion, the Sun Pharma ransomware attack highlights the importance of cyber security measures in the healthcare sector in India. As the threat of cyber attacks continues to grow, healthcare companies must take proactive measures to safeguard their systems and data from potential breaches. By doing so, they can mitigate the financial and reputational damage caused by a cyber attack and maintain their customers' trust.


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