The recovery cost from the impact of a ransomware attack tripled in the last year in India up from $1.1 million (over Rs 8 crore) in 2020 to $3.38 million (more than Rs 24.5 crore) in 2021 to date as the country topped the list of 30 countries worldwide for ransomware attacks, a new report said on Tuesday. The average ransom payment in India was $76,619 (over Rs 55 lakh). However, paying up often doesn t pay off as Indian organizations that paid the ransom got back, on average, 75 per cent of their data and only 4 per cent got all their data back, according to The State of Ransomware 2021 report by global cybersecurity leader Sophos.
According to the findings, 67% of Indian organizations whose data was encrypted paid a ransom to recover their data, a slight increase from the previous year when 66% paid a ransom.
A State of Ransomware 2021 survey interviewed 5,400 IT decision-makers in 30 countries in Europe, the Americas, Asia-Pacific and Central Asia, the Middle East and.
80% Indian cos struggle to educate employees on cybersecurity: Survey
By IANS |
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Hacker. (File Photo: IANS). Image Source: IANS News
Mumbai, May 4 : Cyberattacks are increasing in frequency and severity, but nearly 80 per cent of Indian organisations struggle to provide adequate education to their leaders and employees regarding cybersecurity, according to a survey released on Tuesday.
Despite increasing cyberattacks, budgets on cybersecurity have remained stagnant and executive teams continue to underestimate the level of damage threats can do to organisations, revealed the survey by global cybersecurity firm Sophos.
The survey identified that in India, the executives assume that their organisation will never get attacked. This was followed by the assumption that even though their organisation may be compromised, there is nothing they can do to stop it.