Ransomware hit nearly three-fourths of Indian firms last year | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware


Nearly three-fourths of enterprises in India have experienced ransomware attacks in 2022, the technology analyst firm IDC claims, adding that the figure for the Asia/Pacific region, including Japan, was 59%.

More than half of these Indian companies — 53% to be exact — had forked out ransoms of up to US$500,000 (A$783,881) to end disruptions which had lasted from a day to weeks, the analyst firm added.

It cited figures from the Computer Emergency Response Team of India which showed that 1.4 million incidents had been recorded in 2021, with slightly less (1.39 million) in 2022.

IDC provided the following highlights from its Future of Trust India Survey:

  • More than 85% of Indian enterprises stated that security education and awareness is important to reduce the risk profile of an organization.
  • Sixty-two percent said they would prefer to leverage AI and analytics in cyber-security processes such as threat detection, risk assessments, insights extraction from unstructured data and so on.
  • More than 45% said they were looking at implementing KPIs to measure progress against compliance-focused goals and investments.
  • Almost 36% indicated a preference for cloud-based threat intelligence solutions and almost 58% mentioned that the greatest challenge they faced with their current threat detection and response solutions were with respect to cost for tools, maintenance, and personnel.
  • Approximately 61% were considering the adoption of zero-trust network solutions to enhance identity and access management, particularly in response to heightened risks posed by AI bots.

“Staying competitive demands strategic partnerships and continuous innovation,” said Sakshi Grover, research manager, Asia/Pacific Security and Services IDC India.

“Our industry is experiencing a pivotal transition towards vendor consolidation, addressing the challenges posed by multi-vendor complexities.

“Indian enterprises are actively pursuing streamlined management and integration to elevate their security infrastructure’s efficiency and effectiveness.

“This journey, guided by the fusion of global data and localized insights, strengthens the very fabric of our collective security.“

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