The State of Ransomware 2021 report

Global cybersecurity firm, Sophos, published it “the State of Ransomware 2021 report’. It finds, 68% of Indian organisations were by ransomware in last 12 months.

Key findings

• India is one among most affected countries with respect to ransomware attacks.
• India tops list of top 30 countries for ransomware attacks.
• 68 percent of Indian organisations were hit by ransomware in last 12 months. Though, this number is less than 82 percent, reported in 2020 report.
• 72 percent of Indian organisations admitted, data was encrypted in most significant ransomware attack.
• There is overall drop in attacks. However, attacker’s behaviour has changed at some places. At Sophos, it was reported, attackers were switching to more targeted attacks which include human hands-on keyboard hacking so as to bypass organisation’s defences.
• 67 per cent of Indian organisations, whose data was encrypted, paid ransom to recover as opposed to global average of 32 percent.
• 86 per cent of Indian organisations are of view that, cyberattacks are now too complex for their own IT team to handle.

Impact of attack

Ransomware attacks has significant financial repercussions. Survey highlights, average total cost of recovery from a ransomware attack was more than double in a year. It increased from $7,61,106 in 2020 to $1.85 million in 2021 across the world. However, In India, recovery cost from tripled in a year, $1.1 million in 2020 to $3.38 in 2021.

Month: Current Affairs - June, 2021