Ransomware Threats in India

• Ransomware threats are increasing, with the volume and value of tax and transfer payments doubling annually.
• Veeam Software CEO Anand Eswaran warns that companies must ensure immediate data recovery.
• Research shows that three-fourths of all companies were breached last year, with 80% paying the ransom. Despite paying, 25% never retrieved the data.
• Eswaran emphasizes the need for companies to recognize ransomware as an organizational cultural problem.
• Veeam’s white paper highlights India’s role in the global digital economy as a prime target for ransomware.
• Sandeep Bhambure, VP and MD of Veeam Software India & SAARC, emphasizes the importance of robust data protection and recovery measures.
• The Digital Personal Data Protection Act, 2023, has been enacted to enhance India’s cyber resilience.