New Delhi: It is estimated that more than 67 percent businesses in India have been hit by ransomware. Reportedly, certain business entities are spending nearly USD 1.17 million to rectify the impact of the cyber attack, a survey conducted by Sophos, a network and endpoint security provider noted.
the survey titled as 'The State of Endpoint Security Today', shows the extent to which Indian businesses are at risk of repeated malware attacks and are vulnerable to exploits, for which Sophos polled more than 2,700 IT decision makers across mid-sized businesses in 10 countries worldwide, including the US, Canada, Mexico, France, Germany, UK, Australia, Japan, South Africa and India.
It continues to be a major issue across the globe with 54 percent of organisations surveyed hit in the last year and a further 31 percent expecting to be victims of an attack in the future. On average, respondents impacted by ransomware were struck twice.
"Today's persistent cybercriminals are deploying multiple attack methods to succeed, whether using a mix of such malware in a single campaign, taking advantage of a remote access opportunity, infecting a server, or disabling security software. If IT managers are unable to thoroughly clean ransomware and other threats from their systems after attacks, they could be vulnerable to re-infection. No one can afford to be complacent," said Sophos India and SAARC Managing Director (Sales) Sunil Sharma.
This relentless attack methodology combined, with the growth in Ransomware-as-a-Service, the anticipation of more complex threats, and the resurgence of worms like WannaCry and NotPetya puts businesses in serious need of a security makeover, according to Sophos. In fact, more than 90 percent of Indian IT decision makers surveyed impacted by ransomware were running up to date endpoint protection, confirming that traditional endpoint security is no longer enough to protect against today's cyber attacks.