Sophos: 78 percent of Indian organizations faced ransomware attacks last year

Ransomware affected more than 78 percent of Indian companies last year, up from 68 percent in 2020, shows a survey by research firm Sophos. The findings said that around 78 per cent of Indian firms, whose data was encrypted, paid a ransom to get it back, compared to the global average of 46 per cent. The report said that the average ransom paid by Indian companies was $1,198,475 (about Rs 9,155 crore). Sophos has surveyed 5,600 organizations from 31 countries to gain insights. These include 300 companies from India.

an annual report titled Ransomware Status 2022 By sophos That suggests an increase in ransomware attacks and payments by companies to get their data back. According to the report, 78 percent of Indian organizations experienced ransomware attacks in the last year.

The average ransom payment in India was $1,198,475, and this is the highest rate of ransom payments reported across all countries. According to the survey, 10 per cent of the companies that faced the attacks paid a ransom of $1 million (about Rs 7,637 crore) or more to get their data back, even if they had the data backed up.

Businesses need an average of one month to recover from the attacks and they are affecting the operations and revenues of the entities, reveals the report.

Companies are increasingly relying on cyber insurance to counter ransomware attacks. According to the report, about 89 percent of medium-sized organizations had cyber insurance that covers them in the event of a ransomware attack. In most cases, the insurer paid some or all of the costs.

In the survey, 94 percent of firms with cyber insurance said their experience of obtaining it had changed in the past 12 months, with more demand for cyber security measures, more complex or expensive policies and fewer organizations offering insurance protection. .

Source link

Sharing Is Caring:

Leave a Comment