91 per cent Indian firms faced ransomware attacks in 2022

More than 91 per cent of the Indian organisations experienced ransomware attacks in 2022, according to Information Security company, CyberArk.

CyberArk said that 55 per cent of the affected organisations reported paying up twice or more to allow recovery, indicating that they were likely victims of double extortion campaigns.

In its report, CyberArk said that Indian organisations experienced growing cyber debt in 2022 where security spending over the pandemic period lagged investment in broader digital business initiatives.

The report also showed that all organisations in India expect identity-related compromise this year, stemming from economic-driven cutbacks, geopolitical factors, cloud adoption and hybrid working.

The report further said that about 92 per cent of organisations feel code/malware injection into their software supply chain is one of the biggest security threats their organisations face.