COVID-19 impact: Ransomware attacks increase worldwide, shows CrowdStrike survey
November 19, 2020 7:47:40 pm
The Covid-19 pandemic has led to many companies bringing reforms, adapting to the new online infrastructure. This has also resulted in increased ransomware attacks, cyberattacks on companies. Cybersecurity firm CrowdStrike recently released its Global Security Attitude Survey produced by independent research firm Vanson Bourne that has highlighted the increase in these activities which pose a threat to various companies’ digital transformation moving forward.
The survey included a total of 2,200 respondents from countries around the world including India, US, UK, France, Germany, Singapore, Australia and others. A big chunk of 56 percent out of these have been victims of ransomware attacks last year. 27 percent of these organisations even resorted to paying them ransomware to save their data. Earlier, these ransomware attacks were at 42 per cent and 46 percent in 2019 and 2018 respectively.
On average, companies paid $1.1 million as ransom. Nearly 71 per cent of respondents fear another round of ransomware attacks. In India, 83 percent of the 300 respondents fear the same.
“This year has been especially challenging for organisations of all sizes around the world, with both the proliferation of ransomware and growing tensions from nation-state actors posing a massive threat to regions worldwide,” said Michael Sentonas, chief technology officer, CrowdStrike.
As per the report, organisations also believe that they are more prone to a nation state-sponsored attack amidst growing tensions internationally with China being the bigger concern than Russia. These attacks have been rising in the past couple of years. 58 percent of these believe that China will be a bigger threat. For India, it is the biggest concern as 79 percent of the respondents believe so. Also, 73 percent believe that the nation-state sponsored attacks will be the biggest threat to their organisation in 2021.
With the increase in these attacks, organisations are also investing in bolstering their security. Over the past three years, 61 percent of them have already invested over one million dollars to accelerate the digital transformation. During the Covid-19 period alone, the 90 percent have spent at least 100,000 dollars to adapt to the challenges.
Since a lot of employees have been working remotely instead of going to their offices, 60 percent have been working towards improving their security tools or an increase in cloud technologies to prevent a data breach.
“Now more than ever, organisations are finding ways to rapidly undergo digital transformation to bring their security to the cloud in order to keep pace with modern-day threats and secure their ‘work from anywhere’ operations. Cybersecurity teams around the globe are making strides in improving their security posture by moving their security infrastructure to the cloud and remaining diligent in their incident detection, response and remediation practices,” Sentonas added.
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