Cohesity Research Reveals Challenges in Data Recovery and Business Processes After Cyberattacks

The research commissioned by Cohesity has revealed a concerning trend among companies in Singapore and Malaysia, with a majority unable to recover their data and restore business processes within three days after a cyberattack. The study polled 504 IT and Security decision-makers, highlighting the increasing sophistication of cyberattacks and the challenges companies face in dealing with them.

A staggering 70% of respondents reported that their company had been a victim of a ransomware attack in 2024, with a significant number paying ransoms in the past 12 months. The threat of cyberattacks is expected to escalate further, with 91% in Singapore and 97% in Malaysia anticipating increased risks in their industry.

However, the research also exposed vulnerabilities in companies’ cyber resilience strategies, with 41% lacking confidence in their ability to address escalating cyber challenges. Alarmingly, only 3% of respondents said they could recover data and restore business processes within 24 hours, highlighting the urgent need for improved cyber defense capabilities.

The data also revealed that companies are willing to pay significant amounts to recover their data, with 82% stating they would pay a ransom, and some even willing to shell out over US$1 million. Despite the prevalence of ‘do not pay’ policies, 69% of companies have paid a ransom in the last year, underscoring the severity of the situation.

The research emphasizes the critical importance of enhancing cyber resilience and data security practices to combat the growing threat landscape. With cyberattacks becoming more prevalent and damaging, organizations must prioritize investments in modern data security, response, and recovery capabilities to safeguard their operations and mitigate risks.