Ransomware Attacks Soar: Only 41% Prepared, 78% Rebreached
Alarming figures reveal the stark reality of ransomware attacks. Only 41% of organizations feel equipped to manage the next attack, with nearly half (46%) making a payment despite a low success rate in data recovery. The average payment demand for US businesses has soared to $1.4m.
The situation is grim. Almost four in five (78%) organizations hit by a ransomware attack were breached again, often by the same threat actor. Of these, 36% were targeted by the same attacker, and 42% by a different one. This leaves businesses vulnerable, with 56% experiencing multiple attacks in the last 24 months.
The financial impact is severe. Nearly half (46%) of ransomware victims estimated business losses to be $1-10m, with 16% reporting losses over $10m. Despite this, 84% of organizations agreed to make a payment after being breached. However, less than half (47%) of those who made a payment got their data and services back uncorrupted. Furthermore, nearly two-thirds (63%) of these organizations were asked to pay more the second time, highlighting the futility of making payments.
The frequency and cost of ransomware attacks are escalating. Organizations must strengthen their cybersecurity measures and incident response plans. Making payments appears ineffective, with most attacks recurring and demands increasing. The time to act is now, as the threat shows no signs of abating.
