Summary
This whitepaper presents findings from an independent survey involving 378 IT and cybersecurity leaders in India, focusing on their experiences with ransomware attacks over the past year. The survey, commissioned by Sophos and conducted by a third-party specialist, highlights key statistics such as the median ransom demand of $961,289 and a median ransom payment of $481,636. It also notes that 42% of attacks resulted in data being encrypted, with 95% of organizations able to recover their data. The report discusses the primary causes of ransomware attacks, including exploited vulnerabilities and compromised credentials, and outlines the operational challenges faced by organizations. Additionally, it details the business impact of ransomware, indicating an average recovery cost of $1.01 million. The whitepaper concludes with recommendations for prevention, protection, detection, and response strategies to enhance cybersecurity resilience against ransomware threats in the future.
