Indian companies have succeeded in reaching the top of the global list. But one that no one is proud. India adds to the list of the top 30 countries for ransomware attacks with 68% of Indian organizations surveyed by ransomware in the past 12 months.
What’s more, around 67% of Indian companies whose data is encrypted paying a ransom to regain their data.
Indian companies are the most likely to pay ransom of all countries surveyed — the global average is only around 32%.
These are all part of the ‘State of Ransomware 2021’ findings conducted by the Cybersecurity company Sophos.
The average rating payment in India is $ 76,619
However, the number of organizations affected by Ransomware has dropped from 82% in the previous year. And 72% of Indian organizations affected by Ransomware acknowledged that data had been encrypted in the most significant ransomware attack, down from 91% in the previous year.
Ransomware attacks have significant financial consequences. According to the survey, the average cost of recovery on average from Ransomware attacks has more than doubled in a year, increasing from $ 7.61.106 by 2020 to $ 1.85 million in 2021 globally. In India, the estimated recovery cost of the impact of three-fold ransomware attacks last year, rose from $ 1.1 million in 2020, to $ 3.38 by 2021. The average payment of the ransom in India was $ 76,619.
The survey also said that 86% of Indian companies believe CyberatCack is now too complex for their IT team to handle itself, compared to the global average of 54%.
Sunil Sharma, Managing Director-Sales, Sophos India and SAARC, “While the proportion of ransomware-hit organizations has declined compared to the previous year, Indian organizations are still far more likely to be beaten than in other countries surveyed. This can be caused by a high level of domestic ransomware In India, as seen by Sophoslabs, which leads to a situation where Indian enemies target Indian organizations. “