ExtraHop, a player in cloud-native network detection and response (NDR), has recently released its third annual Global Cyber Confidence Index. This report identifies organisations as generally underprepared to handle and reduce their cyber risk, with an upsurge in ransomware attacks and cybersecurity instances causing operational downtime.
A considerable majority (98%) of IT and cybersecurity decision-makers expressed confidence in their organisations’ ability to manage cyber risk. However, they largely recognised falling behind in identifying and tackling ongoing threats. Singapore highlights this dynamic. Although nearly one in five (20%) respondents considered ransomware as their organisation’s top threat, approximately 64% and 62% of Singapore-based organisations continue to use antiquated and susceptible network protocols exploited in ransomware attacks.
In the past year, organisations in Singapore experienced roughly 8 ransomware incidents, nearly aligning with the global average of 7.75 incidents. An extraordinary 95.7% of Singapore organisations hit by a ransomware attack acquiesced to the ransom demand. On average, ransomware payments alone cost close to $3.3…
