In a recent study, India’s ransomware has reportedly been increased by three folds since the past year. It has increased from over Rs 8 crores to more than Rs 24.5 crores in 2021. Furthermore, the country has topped the list of 30 countries worldwide for ransom attacks.
The State of Ransomware 2021 Releases Data on Indian Data Breach
As per the data released by The State of Ransomware 2021, a global cybersecurity leader, the average ransom payment in India was over Rs 55 lakh. But even after paying the amount, the Indian organizations got only 75 percent of their data back in the data breach. Only in 4 percent cases, the company got all of their data back.
The findings also showed that 67 percent of the Indian organizations paid the ransom money to get their data back. This is slightly higher than last year when only 66 percent of the organizations paid the ransom money.
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Sunil Sharma, Managing Director-sales, Sophos India, and SAARC said that there has been a decline in the number of organizations that can be hit by ransomware as compared to the previous year. But Indian companies number for ransomware is still higher than a lot of other companies.
He added that it has become harder and more expensive for businesses to gt their data back and recover from this kind of attacks. Incidents like these put a strain on the operational budgeting of the company.
The survey studies 5400 IT decision-makers working with the mid-sized organisations across 30 countries. It includes Europe, America, Asia-Pacific, Central Asia, Middle East and Africa.
Cyberattacks Are Too Complex For Indian IT Team, Report States
The survey stated that 86 percent (of 300 respondents) of the Indian organizations believe that cyberattacks have now become too complex for their IT team to handle on their own. However, worldwide, only 54 percent companies believe the same.