Indian companies paid Rs 8 crore on average to fix ransomware, says report

Ransomware is malicious software that locks and encrypts a victim's computer or device data and then demands a ransom to restore access.

Indian companies paid more than Rs 8 crore ransom on average to fix ransomware attacks on their operations, a new report said on Tuesday.

As many as 82 per cent Indian companies were attacked in the past 12 months--a 15 per cent increase from 2017, said the report called 'The State of Ransomware 2020' conducted by Sophos, a global cybersecurity company. Ransomware is a form of malicious software that locks and encrypts a victim’s computer or device data and then demands a ransom to restore access, according to Norton.com.

Two out of three organisations hit by ransomware in India admitted