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Sophos reports high ransom payments by Indian firms
Over half of Indian companies hit by ransomware in 2024 ended up paying to get their data back, according to a new Sophos report.
While the number of firms paying up is high, the typical ransom amount actually dropped by 79% compared to the previous year.
Average ransom paid was about $481,636
The average ransom paid was about $481,636 (₹4 crore), but even with smaller payouts, companies faced steep recovery costs—around $1 million each, not counting the ransom itself.
The report also points out that most attacks happened because of weak system security, stolen passwords, or phishing emails.
About 40% of respondents admitted that gaps in cybersecurity skills and defenses made them easier targets.