According to the International Data Corporation’s (IDC) recent report, The State of Ransomware in Asia/Pacific, a staggering 59.6% of enterprises in the region experienced ransomware attacks in 2023.
The report highlights the urgent need for enhanced cybersecurity measures to counteract increasingly sophisticated threats. This figure shows the increasing threat of cyberattacks and the need for organizations to improve their cybersecurity measures to protect against more advanced ransomware.
“The Asia/Pacific region is experiencing rapid digital transformation, which has led to more sophisticated ransomware attacks,” says Sakshi Grover, Senior Research Manager, Cybersecurity Services, IDC Asia/Pacific.
“Ransomware has significantly evolved, now increasingly targeting critical infrastructure and operational technology environments. This shift highlights the urgent need for organizations in the region to enhance their defenses and strategies. The rise in ransomware payments, fueled by the exploitation of vulnerabilities in critical infrastructure and supply chains, resulted in 59.6% of Asia/Pacific enterprises falling victim to ransomware attacks in 2023.
“Furthermore, using AI-driven tactics has allowed cybercriminals to launch more precise and persistent attacks, posing additional challenges to the region’s cybersecurity resilience.”
Businesses in the Asia/Pacific region are grappling with a complex threat landscape driven by geopolitical tensions, automation, and AI-powered attacks. Cybercriminals are deploying advanced tactics like double extortion and ransomware-as-a-service (RaaS), enabling even less skilled attackers to launch sophisticated assaults.
These increasingly targeted threats are hitting critical sectors such as healthcare, supply chains, and essential infrastructure. Attackers are also leveraging data theft and social media pressure to amplify their impact and extend their reach.
The growing interconnectivity of business ecosystems increases ransomware risks, with 36.4% of enterprises reporting that third-party supplier or customer systems were impacted. This underscores the need for stronger vendor risk management and supply chain security.
To combat ransomware, many organizations are adopting AI-driven tools like Identity Analytics and User and Entity Behavior Analytics (UEBA). Notably, 42% of surveyed enterprises found these tools effective in preventing attacks.
Compliance with cybersecurity frameworks such as CIS Top 20, PCI, NIST, and ISO is vital for demonstrating cyber resilience and negotiating lower cyber insurance premiums. As cyber insurance costs rise, businesses are increasingly using compliance to secure better rates. Additionally, robust backup and disaster recovery strategies, especially cloud-based solutions, are essential for maintaining resilience against ransomware. As threats evolve, organizations must continuously update their defenses to minimize financial damage.
