Over 1.16 Million Cyber Attacks Target India’s Financial Industry: Seqrite Report

Cybersecurity threats in India are fast growing, particularly in the financial and insurance industries. According to Seqrite's India Cyber Threat Report 2026, scammers are now stealing critical client data from insurance businesses via fake websites and duplicated portals.

The research is based on security data collected from over 8 million endpoints in India. It reveals a significant increase in brand impersonation attacks, in which hackers develop fake websites that resemble genuine platforms for banks, fintech companies, and insurance providers. These fraudulent portals frequently pose as policy renewal pages or claim verification websites.

When users visit these fraudulent pages, they are asked to enter personal information such as policy numbers, contact details, OTPs, and payment credentials. Many victims believe they are interacting with legitimate services, which makes these phishing attacks highly effective. Once attackers collect this information, it can be used for financial fraud or identity theft.

The research also emphasizes that malware risks are still an important issue. Trojans and file infectors account for roughly 70% of all malware activity observed. These sorts of malware frequently serve as entrance points for hackers. They enable attackers to steal login credentials, gain remote access to systems, and install malicious software.

Although ransomware attacks accounted for a reduced percentage of detections, they still generate significant challenges for organizations. Companies that rely largely on digital systems for claim processing and client databases may experience significant operational disruptions if ransomware attacks occur.

Another noteworthy finding in the report is that 91% of cyber threat detections occurred in on-premise systems, indicating that a lot of companies continue to rely on outdated infrastructure. These legacy systems frequently have weak security measures, making them easy targets for attackers.

To get beyond traditional security systems, cybercriminals are employing new approaches including cloud identity and OAuth token misuse. As firms extend their online services, such as digital onboarding and self-service portals, protecting sensitive consumer data is more vital than ever. The report serves as a warning that stronger cybersecurity and fraud prevention tactics are urgently required in India's rapidly expanding digital environment.

This article is based on information from ET CISO