A recent study by Wakefield Research, commissioned by Rubrik Zero Labs, has revealed a startling statistic: 80% of Indian organizations targeted by ransomware in 2024 paid a ransom to recover their data or halt the attack. This alarming trend underscores the growing threat of ransomware and the urgent need for robust cybersecurity measures.
The study highlights that 52% of organizations paid ransoms due to data extortion threats, while 44% reported that cyberattacks compromised their backup and recovery systems. The consequences of these attacks were severe, with 29% of respondents reporting financial losses, 31% experiencing reputational damage and loss of customer confidence, and 36% undergoing leadership changes as a result of cyber incidents.
The findings also shed light on the challenges of securing sensitive data in hybrid environments. While 65% of organizations store data across on-premises, cloud, and SaaS platforms, 38% identified securing data across these environments as a significant challenge.
Experts emphasize the importance of proactive measures to combat ransomware. Joe Hladik, head of Rubrik Zero Labs, stated, “The persistence of ransomware attacks, coupled with the exploitation of hybrid cloud vulnerabilities, shows that threat actors are always one step ahead.” He urged organizations to prioritize data protection before it’s too late.
This report serves as a wake-up call for Indian IT leaders to strengthen their cybersecurity frameworks and ensure data resilience in an increasingly complex digital landscape.
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