Bafna Group Targeted by Ransomware Group Lv

The Bafna Group, a holding company and conglomerate with a rich history dating back to 1952, has been targeted by the ransomware group Lv. The attack was announced on the group's dark web leak site. The company operates in the Holding Companies & Conglomerates sector and has a diverse range of service offerings, resonating with solutions and vibrant with ideas and creativity.

Company Overview

The Bafna Group was founded by Mohanlal Raichand Bafna and has since grown into a global corporate entity. The company's corporate tradition is deeply rooted in the principles of integrity, providing superior quality and value, and building close, mutually productive relationships with customers and suppliers.

Industry Standout

The Bafna Group is known for its diversified interests and has evolved into a global corporate entity. The company's history spans over 61 years, during which it has added new dimensions, explored new horizons, and ventured into uncharted territory.

Vulnerabilities

The Bafna Group, like many other companies, faces the risk of cyberattacks. In the past, the company has been targeted by ransomware groups, such as Black Basta, which has been observed targeting businesses involved in technology, insurance, manufacturing, and utilities. The group has been active since April 2022 and has targeted organizations in the US, Austria, and other countries.

Impact of the Attack

The attack by the Lv ransomware group on the Bafna Group is a reminder of the ongoing threat of cyberattacks on businesses. The impact of such attacks can be significant, leading to disruptions in communication systems and potential data breaches.

Mitigation Strategies

To mitigate the risk of ransomware attacks, companies should implement robust cybersecurity measures, such as regular backups, data protection, and ransomware protection solutions. Additionally, companies should stay informed about the latest threats and vulnerabilities in their industry and take proactive steps to address them.

Sources

• Finance Magnates - https://www.financemagnates.com/
• Trend Micro - https://www.trendmicro.com/
• Reuters - https://www.reuters.com/
• LinkedIn - https://www.linkedin.com/
• BaFin - https://www.bafin.de/