Cyberattacks Surge in Asia Pacific Region, Says Dell Technologies Report
A significant number of organizations in the Asia Pacific region, including India, faced disruptive cyberattacks in the past year, with rising monetary costs and concerns over data protection in multicloud environments.
Jamie Bailey
- 2024-01-11
- Updated 12:28 AM ET
(NewsNibs) - According to the Global Data Protection Index (GDPI) Cyber Resiliency Multicloud Edition released by Dell Technologies, 57% of respondents across countries like Australia, India, Japan, South Korea, and Singapore experienced cyberattacks that blocked their data access within the previous 12 months. This percentage represents the highest incidence of cyberattacks in over five years. Reflecting the severity of these incidents, the average financial impact has more than doubled from the last report, reaching a staggering $1.4 million per incident. Lucas Salter, a Dell Technologies expert, underscored the growing need for organizations to adopt comprehensive data protection strategies in response to these escalating threats.
Data Protection Concerns and Recovery Readiness
The GDPI report illuminates that 76% of organizations fear their current data protection measures may be inadequate against ransomware attacks, while 66% expressed a lack of confidence in their ability to recover from a destructive cyberattack. Notably, 54% of these organizations allocate a larger portion of their budget to cyberattack prevention as opposed to recovery measures. Remote work is seen as a contributing factor, with 83% of organizations surveyed indicating that it has increased the risk of data loss from cyber incidents.
In terms of readiness and response to the growing cyber threat, 95% of organizations have adopted ransomware insurance policies, but they encounter significant challenges such as the need to demonstrate best practices to ensure policy coverage, with 59% reporting this requirement. Additionally, 43% face situations that may void their coverage, and 46% run into restrictions caused by laws regulating ransomware payments. Despite these measures, 88% of organizations reported having to pay for data recovery following an attack. To bolster their cybersecurity resources, 50% of businesses have enlisted professional services, 52% carry out regular testing of their cyber recovery capabilities, and 42% have set up cyber vaults to safeguard their most critical data.
The Emerging Threat of Generative AI and Multicloud Environments
The GDPI report also discusses the future risks posed by generative AI, revealing that 46% of organizations believe generative AI will have a positive effect on their security posture, while 89% acknowledge that it could generate new types of valuable data. This has implications for data protection strategies, as the nature of data and its value could change. In the sphere of multicloud operations, 76% of IT decision-makers admit to low confidence in their data protection capabilities across public clouds, with 39% highlighting security concerns in these environments.
Companies are consequently placing a high priority on strengthening their multicloud data protection and overall cybersecurity. In light of the challenges posed by public clouds, hybrid work models, and experimental use of generative AI, the importance of robust data protection has been brought to the forefront. The insights from the GDPI are based on responses from 1,500 IT and IT security decision-makers across various industries globally, gathered in September and October 2023. Recognizing the evolving threat landscape, organizations are reevaluating their cybersecurity strategies to handle these complex challenges.
