No impact on overall network, says HCLTech after suffering ransomware attack

IT services company HCL Technologies has suffered a ransomware attack in one of its projects. In a regulatory filing, the company said that the incident happened in an isolated cloud environment and that there was ‘no impact observed’ on the overall HCLTech network.

“Cybersecurity and data protection is a top priority for HCLTech. A detailed investigation is underway in consultation with relevant stakeholders to assess the root cause and take remedial action as necessary,” HCLTech said in a statement. 

In April, the Computer Emergency Response Team — CERT-In — which works under the IT Ministry released a report on ransomware incidents in the country. The report found that the number of attacks increased by 53% in 2022 compared to the previous year. The IT and ITeS sector was found to be most impacted followed by finance and manufacturing sectors. “Ransomware players targeted critical infrastructure organisations and disrupted critical services in order to pressurise and extract ransom payments,” the report noted.

The rise of cyber security threats like ransomware, phishing, crypto-jacking, and others, is forcing companies to opt for a cyber-insurance cover — either as part of an overall insurance policy or a standalone policy. India, is also emerging as a leading buyer of cyber covers, according to the survey conducted by cybersecurity solutions company Sophos in May, that covered 3,000 respondents across 14 countries, including 300 from India. 

The survey showed that India is ranked sixth among the top ten countries taking adequate cover for cyber breaches, according to a recent survey. South Africa leads the list with 98% of organisations taking a cyber-insurance cover, followed by Singapore with 97%, and Austria and the US with 94% each.