Ransomware Hits About 73% of India’s Mid, Large Companies In 2023: Report

A recent study revealed that nearly 73 per cent of mid and large-sized organisations in the country were hit by a ransomware attack in 2023.

The study by cybersecurity firm Sophos underlined that All Indian Institute of Medical Sciences (AIIMS), Indian Council of Medical Research (ICMR) and Taj Hotels were among the ransomware-hit companies.

It said nearly 44 per cent of these organisations ended up paying ransom ranging between USD 100,000 to USD 500,000.

Chester Wisniewski, director and global field chief technology officer (CTO) of Sophos said modern cyberattacks usually begin by gaining access to the tech infrastructure either by exploiting an outdated piece of internet-facing equipment or through accessing or stealing or reusing the password of an employee.

Ransomware attacks are a form of malware attack in which the attacker encrypts the victim's data, files, or systems and demands payment to unlock and decrypt them.