New Delhi, Sep 7 : Around 70% of companies in India are impacted by ransomware attacks in the past three years, while eighty percent of companies believe that they could be the victims of ransomware-related attacks, a report revealed on Wednesday.Nearly 66 percent of organizations have seen their supply chain partners be the victims of ransomware-related attacks in India.
Cybersecurity expert Trend Micro revealed in its report that organizations are becoming at risk of ransomware-related attacks through their vast supply chains.
In India the country, 66 percent of organizations have an insurance policy for cyber security, while 98 % frequently update security patches for outside-facing servers and VPN devices.
Nearly 32 percent of respondents are motivated by combating ransomware in the next twelve months in India as per the report.
Ransomware is present in 25 percent of the data breaches that occur, which is a 13 per cent increase year-on-year worldwide.
A large majority of IT and business leaders across the globe (87 percent) are now viewing cyber security as a greater threat than a downturn in the economy, with a fifth admitting that a serious cyber attack in the past almost caused their business to go under.
A year ago an attack of a sophisticated nature on a vendor of IT management software resulted in the loss of hundreds of MSPs and tens of thousands of downstream clients.
However only 47 percent of organizations worldwide share information about ransomware-related attacks with their suppliers.Furthermore, 25 percent said they don’t share valuable threat information with suppliers.
“We discovered that 52 percent of worldwide organisations have experienced an organisation’s supply chain affected by ransomware, putting their systems at risk of compromise” said Sharda Tickoo Technical Director of Trend Micro India as well as SAARC.
The supply chain can be used by attackers to gain an advantage over their target.
In the case of companies that have experienced an attack with ransomware in the last three years, 67 percent reported that their attackers had contacted customers or partners about the breach in order to force payment.
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