20 Sep Indian SMEs Targets Of Ransomware Attacks
This week in cybersecurity from the editors at Cybercrime Magazine
–Read the Full DataQuest Story
Sausalito, Calif. – Sep. 20, 2024
Ransomware attacks, where malicious actors encrypt a company’s data and demand a ransom for its release, have become increasingly prevalent.
According to a 2023 report by Cybersecurity Ventures, global ransomware damage costs are projected to exceed $30 billion annually by 2025.
DataQuest reports that Indian companies, particularly small and medium enterprises (SMEs), are particularly vulnerable. A study by the National Association of Software and Service Companies (NASSCOM) highlighted that 68 percent of Indian SMEs reported being targets of ransomware attacks in the past year.
The financial ramifications of these attacks can be devastating, leading to substantial downtime and loss of revenue.
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