Amid the fast-paced, pandemic-driven digitalisation across the globe, the world is facing cyber attacks led by ransomware like never before -- an average of 270 attempts per firm - and the cost of breaches to an organisation amounted to an average of $3.6 million per incident last year, a World Economic Forum (WEF) study revealed on Tuesday.

Perhaps even more troubling is the growing trend that companies need 280 days on average to identify and respond to a cyberattack.