Top 5 Ransomware & Phishing Trends Hitting Indian Businesses in 2025

As India continues to be a hotbed for digital innovation, it also faces a surge in cyber attacks, particularly ransomware and phishing. These two attack vectors remain the most significant threats to businesses, both large and small. A report by The Hindu highlights that in 2024, India accounted for over half of the global ransomware attacks, with a significant portion involving phishing activities. The evolving tactics of cyber criminals, combined with vulnerabilities in both technology and human behavior, have made these attacks increasingly sophisticated in 2025. This article discusses the top five ransomware and phishing trends that Indian businesses need to be aware of.

Top 5 Ransomware Trends

1. Attacks via Supply Chain

Ransomware attacks exploiting vulnerabilities within software supply chains are on the rise. According to the OpenText 2024 Global Ransomware Survey, 90% of Indian respondents reported ransomware attacks originating from software supply chain partners. Cyber criminals are increasingly targeting trusted third-party vendors or service providers as a means to infiltrate organizations. Once a partner is compromised, ransomware can spread across multiple organizations, causing widespread disruptions.

Given India’s heavy reliance on third-party vendors for critical services, it’s crucial to secure the entire supply chain and the internal networks alike.

What businesses can do: Develop clear cyber security requirements for all vendors and ensure they adhere to best practices. Conduct periodic security audits of both internal and third-party systems to identify and address vulnerabilities.

2. Attacks on Sensitive Data

In 2025, targeting sensitive data like financial, health, and child welfare information has become a focal point for ransomware groups. The high value of such data increases the likelihood of successful ransom payments, as businesses are pressured to protect their invaluable data.

Ransomware groups often use double-extortion technique — encrypting and stealing data, then threatening to release it if the ransom isn’t paid. The Star Health Insurance and Madhya Pradesh State Child Protection Society data breaches highlight the vulnerability of high-value data.

What businesses can do: Ensure that the tools used for storing data, both in transit and at rest, include encryption features. Additionally, consider implementing data loss prevention (DLP) solutions to monitor and control sensitive data.

3. Double & Triple Extortion Tactics

Ransomware attacks in India are becoming more sophisticated, using double and even triple extortion tactics. In a double extortion attack, cyber criminals not only encrypt a victim’s data, locking access, but also steal it. They then threaten to publish the stolen data unless a ransom is paid. Triple extortion goes a step further—attackers extend their threats to the victim’s customers, partners, or suppliers, increasing pressure by risking broader reputational and financial damage.

This tactic has been used in high-profile attacks on sensitive sectors in India, such as the ICICI Bank data breach, where attackers threatened to expose stolen customer data to force payment.

What businesses can do: Implement strong, automated data backup systems and regularly test the restoration process. Prepare and regularly test an incident response plan to swiftly address and manage ransomware attacks.

4. AI-Powered Ransomware Attacks

Artificial Intelligence (AI) is transforming ransomware attacks by enabling cyber criminals to automate and refine their efforts with greater precision. With AI, attackers could gather information about potential victims, scan for vulnerabilities, and identify high-value assets to target, making their efforts more successful and lucrative.

A prominent example in India is the Star Health Insurance Data Breach (October 2024), where cyber criminals leveraged AI-powered Telegram chatbots to systematically leak sensitive customer information, including medical records and personal data. This attack demonstrates how AI-driven tools enhance the capabilities of ransomware groups, making it more challenging to defend against these sophisticated threats.

What businesses can do: Consider investing in AI-powered security tools that can detect anomalies and mitigate emerging ransomware threats. Periodically train employees to help them recognize AI-driven phishing attacks.

5. Ransomware-as-a-Service (RaaS) and Unmanaged Devices

Ransomware-as-a-Service (RaaS) is one of the most alarming trends in ransomware. RaaS allows even low-skilled cyber criminals to launch sophisticated ransomware attacks. These services, often sold on dark web forums, provide pre-built ransomware kits that can be customized for various targets.

In parallel, the rise of remote work and Bring Your Own Device (BYOD) policies has created a key vulnerability in cyber security: unmanaged devices. These personal devices, often lacking the security measures of company-owned systems, are prime targets for ransomware attacks. Cyber criminals exploit users’ increased tendency to click on phishing links or download malicious files on their personal devices, gaining access to corporate networks. In India, many businesses still struggle to secure personal devices used for work, making them a growing soft spot for ransomware.

What businesses can do: Implement endpoint security solutions that can monitor and secure all devices, including personal ones. Adopt a zero-trust security model where all devices are treated as untrusted by default, requiring constant verification.

Top 5 Phishing Trends

1. AI-Powered Phishing Attacks

AI tools are revolutionizing phishing attacks by allowing cyber criminals to craft personalized phishing emails, SMS messages, and social media posts that mimic the communication styles of trusted contacts. These highly convincing messages are harder for employees to identify as phishing attempts, making them more likely to fall victim.

AI-driven tools can create real-time, tailored phishing lures, adapting based on the victim’s responses. With India’s growing adoption of digital communication platforms, this trend poses a significant threat to businesses.

What businesses can do: While AI can power sophisticated phishing attacks, it can also strengthen your defenses. Consider adopting AI-based security solutions to analyze communication patterns and detect anomalies in phishing attempts before they reach employees. Provide regular employee training on identifying AI-driven phishing scams.

2. Multi-Channel Phishing Attacks

Multichannel phishing attacks are gaining momentum in 2025. These attacks involve cyber criminals targeting the same victim using various platforms — email, text messages, social media, and voice calls — in a single phishing operation. The goal is to increase the likelihood of success by exploiting the victim’s trust in different platforms.

An attacker may send a phishing email with a link to a fake website, then follow up with a WhatsApp message or a phone call pretending to be a customer support representative, asking the victim to confirm their account details or log into the fraudulent site. This cross-platform approach makes the attack harder to detect and more convincing, as the victim is contacted through several trusted communication channels.

What businesses can do: Train employees to recognize phishing attempts across various communication channels. Implement Multi-Factor Authentication (MFA) and encourage employees to verify any suspicious communications through official channels before acting on them.

3. Business Email Compromise (BEC) via Deepfake Technology

Business Email Compromise (BEC) is a cyber attack in which criminals impersonate trusted individuals, typically senior executives, to trick employees into transferring money or sharing sensitive information. Cyber criminals are increasingly using deepfake technology to make these attacks more sophisticated, creating highly realistic audio and video communications that deceive employees into making critical decisions. One growing tactic is voice phishing (vishing), where attackers use fake voices to call employees and request urgent actions, such as wire transfers or confidential data.

What businesses can do: Implement Multi-Factor Authentication (MFA), particularly for high-value transactions and internal communications. Maintain a list of trusted contacts and communication methods for employees in high-risk roles or those handling sensitive transactions, including alternative emails or phone numbers, to authenticate critical requests. Additionally, provide periodic employee training on recognizing deepfake-based threats and other social engineering tactics.

4. Phishing on Social Media and Instant Messaging Platforms

Social media and instant messaging platforms, such as WhatsApp, Facebook, and Telegram, have become common avenues for phishing attacks. Attackers are using these platforms to send messages that appear to come from trusted contacts, often including malicious links or attachments. One such tactic is steganography, where cyber criminals hide malicious code within harmless-looking images or videos. A recent incident involved a WhatsApp image malware that used steganography to steal OTPs and drain victims’ bank accounts.

These attacks are becoming more frequent in India, often disguised as job offers, investment opportunities, or customer service inquiries.

What businesses can do: Implement security policies that discourage sharing sensitive company information on social media and messaging platforms typically used for personal communication. Encourage the use of official communication channels for work-related matters.

5. Phishing via Brand Impersonation of Cloud Services

As Indian businesses increasingly rely on cloud-based platforms like Microsoft 365 and Google Workspace for critical services, the risk of phishing attacks has surged. Cyber criminals are taking advantage of the trust businesses place in these popular cloud services by impersonating official communications—such as password reset requests, security alerts, or service updates—from these platforms. The goal is to steal login credentials, deploy malware, or gain unauthorized access to sensitive company data.

With the rise of remote work and cloud adoption, particularly in the post-pandemic era, phishing attempts that exploit brand impersonation of trusted cloud services have become more frequent and sophisticated.

What businesses can do: Implement Multi-Factor Authentication (MFA) and periodically audit cloud security measures to prevent phishing attempts targeting cloud-based services.

Preparing for What’s Next

The digital world continues to be unpredictable, and it’s difficult to know what’s lurking in the wild. But the ability to stay prepared will determine businesses’ resilience in the face of cyber attacks. In 2025, both ransomware and phishing are becoming more advanced, with cyber criminals constantly refining their tactics. Indian businesses must take proactive steps to stay ahead of evolving threats by adopting a multi-layered approach to cyber security. Investing in employee training, implementing advanced threat detection systems, and establishing robust incident response plans are no longer luxuries, but essential necessities moving forward.