India is witnessing a dramatic escalation in cyber threats targeting its Banking, Financial Services, and Insurance (BFSI) sector as well as government entities, according to the recently released Trend Micro 2025 Cyber Risk Report. The report highlights that India now ranks among the most targeted nations globally, particularly vulnerable to email and malware-based attacks, and faces unique challenges as cybercriminals leverage emerging technologies like artificial intelligence to intensify their campaigns.
India’s Global Cyber Risk Profile
The Trend Micro report reveals that India is the second most targeted country worldwide for email threats, contributing 6.9% to global detections and nearly 24% to Asia’s overall share. The BFSI and government sectors are especially at risk due to the sensitive nature of the data they handle and their critical roles in the country’s digital infrastructure. The report notes that attackers are increasingly using AI-driven techniques to craft sophisticated phishing emails, automate malware delivery, and evade traditional security measures.
Key Threat Vectors and Attack Patterns
- Email and Malware Attacks: Email remains the primary vector for initial compromise, with a surge in phishing and business email compromise (BEC) scams targeting financial institutions and government agencies.
- AI-Driven Threats: The adoption of artificial intelligence by cybercriminals is enabling more personalised and convincing attacks, including deepfake-enabled scams and automated social engineering campaigns.
- Vulnerability Exploitation: Many organisations are struggling to patch and secure legacy systems, leaving them exposed to known exploits and ransomware attacks.
- Cloud and Endpoint Risks: The expanding use of cloud services and remote endpoints has widened the attack surface, making it harder for security teams to monitor and protect all digital assets.
Cyber Risk Index and Sectoral Impact
Trend Micro’s Cyber Risk Exposure Management (CREM) solution quantifies organisational risk through a Cyber Risk Index (CRI). In 2024, India’s average CRI remained in the medium risk zone, indicating several unresolved vulnerabilities and the need for ongoing risk mitigation efforts. The BFSI sector, in particular, faces operational, regulatory, and reputational risks from successful cyberattacks, while government agencies risk disruption of essential public services and threats to national security.
Recommendations for Enhanced Security
The report urges organisations to shift from a reactive to a proactive security posture. Key recommendations include:
- Adopting advanced, AI-powered threat detection and response tools
- Conducting regular security audits and timely patch management
- Investing in continuous employee cyber awareness training
- Collaborating with industry peers and government agencies to share threat intelligence and best practices
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As India’s digital economy continues to expand, the stakes for cybersecurity in the BFSI and government sectors are higher than ever. The Trend Micro 2025 Cyber Risk Report makes clear that only through sustained investment in advanced security technologies and a culture of vigilance can these sectors defend against the evolving cyber threat landscape.
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