Majority of organizations in Singapore paying ransom to recover data

Organizations in Singapore are facing a wave of cyberattacks, with 91% of IT and security leaders reporting cyberattacks in the past year, according to research from Rubrik Zero Labs.

According to findings from Rubrik Zero Labs “The State of Data Security in 2025: A Distributed Crisis” report, 91% of IT and security leaders in Singapore experienced a cyberattack in 2024. The report is based on insights from over 1,600 IT and security leaders across 10 countries, including Singapore, conducted in partnership with Wakefield.

While there was an increase in cyberattacks, a more concerning finding from the report revealed that a whopping 95% of organizations that experienced a successful ransomware attack last year admitted to paying a ransom to recover their data. Globally 86% of organizations also stated that they are paying ransom to cybercriminals.

The reason for this is most likely because 75% said threat actors were able to partially compromise backup and recovery systems, while 38% said their systems were completely compromised.

Apart from ransomware attacks, identity threats are also intensifying, fueled by the complexity of today’s hybrid environments. The report revealed that 91% of organizations in Singapore use between two and five cloud and SaaS platforms. This allows attackers to exploit weak points in identity and access management to move laterally and escalate ransomware attacks.

Insider threats are another problem that is often driven by compromised credentials. Organizations in Singapore are facing growing difficulty of maintaining strong access controls across distributed systems.

Rubrik telemetry reveals that 27% of high-risk sensitive files contain digital data such as API keys, usernames, and account numbers. These are exactly the kind of information threat actors seek to hijack identities and infiltrate critical systems.

“The rise of cloud adoption, coupled with increasingly complex hybrid environments, is reshaping the landscape in which organizations operate – presenting both opportunities and challenges. As more sensitive data moves to the cloud, cyberattackers are broadening their tactics to exploit hybrid cloud vulnerabilities, raising their chances of success,” said Sheena Chin, Managing Director, ASEAN, Rubrik.

Breaking down the frequency and impact of cyberattacks

Taking a deeper look at the report, nearly one fifth of organizations in Singapore experienced more than 25 cyberattacks in 2024 alone. That’s equivalent to an average of at least one breach every other week. The most common attack vectors cited were malware on devices (38%), phishing (32%), insider threats (31%), cloud or SaaS breaches (26%), and data breaches (23%).

For businesses in Singapore, the consequences of these cyberattacks are heavily impacting them. 38% noted reputational damage and loss of customer confidence while 37% of respondents reported increased security costs. 33% also experienced a forced leadership change following a cyber incident.

Given the impact these cyberattacks, protecting sensitive data across multiple systems has become increasingly nuanced, especially with the widespread adoption of AI significantly exacerbating the challenge of data sprawl. An overwhelming 92% of IT and security leaders report managing hybrid cloud environments, and half of IT leaders say the majority of their workloads are now cloud-based.

While Singapore is recognized as a regional leader in tech innovation and digitalization, Chin pointed out that local organizations in this advanced digital landscape must contend with sophisticated cyber threats, placing them under mounting pressure to strengthen their cyber defenses. Chin explained that this requires a data-first security approach – one that mirrors how attackers think, by proactively pinpointing and protecting an organization’s most critical data before it is compromised.

“With threats constantly evolving and becoming more sophisticated, this will be crucial for organizations to stay resilient and effectively tackle emerging risks,” she added.

As the report suggests, organizations should look to regain control through system awareness, protection plans, and recovery. When it comes to data, organizations should also be empowered to locate and classify sensitive data in categories. Lastly, organizations must ensure there is continuous backup and restoration, both in the cloud and on-premises.