To help convince you that every organization should develop a cybersecurity plan, here are 93 statistics on ransomware that showcase the reality of the devastating effects of ransomware.
Only half of businesses have a rigorous cybersecurity plan as of 2022. An additional 30% of businesses admit that they do not currently have a cybersecurity plan, but intend to create one. The remaining 20% don’t have a plan and do not intend to create one in the near future.
Why are all of these numbers significant?
Since only half of businesses have a cybersecurity plan, the other half are at a high risk of experiencing a ransomware attack.
Without an elaborate cybersecurity plan, bad actors can get into networks and block access to data. They will try to force you to pay a fee to regain access to your systems. Most hackers will also threaten to delete the data or publish it on the dark web if the ransom isn’t paid.
If this isn’t enough to convince you to develop a cybersecurity plan, or maybe update your existing plan, your organization will pay the price.
To help further convince you that every organization should develop a cybersecurity plan, here are 93 statistics on ransomware that showcase the reality of the devastating effects of ransomware.
If you work in an industry that deals with electronic data, you’ve probably heard about the horrors surrounding ransomware. This type of attack leads to a loss of data, potentially losing a few million dollars, and the inability to continue business operations.
But what exactly is ransomware?
Ransomware is a specific type of malware. It may or may not involve encrypting a victim’s data. Many organizations can find themselves locked out of their computer network.
Once the malware has infected an organization's electronic systems, the bad actors will ask their victims to pay them, often in the form of cryptocurrency since it’s harder to trace back to the illegal activity. Once paid, the bad actors promise to unlock the computers or decrypt the stolen data.
However, the hackers don’t always keep their word.
There are many forms of ransomware. Governments, businesses, and municipalities deal with new types of ransomware threats all of the time. The three most widely reported ransomware families in Q1 2021 are REvil, Conti V2, and Lockbit.
You can see the top 10 most reported ransomware families, by percentage, below.
To make matters worse, hackers now offer their expertise as a service. Ransomware as a service (RaaS) came from the original software-as-a-service (SaaS) business model. For RaaS to work, the hackers license their ransomware program to another party or affiliate.
Hackers profit off of the RaaS model since they take the majority of the ransomware payment for themselves. Prolific hacker groups can take as little as 20% of a ransom since they steal so much money from around the world.
The 2020 pandemic caused major disruptions in the supply chains, business operations, and security measures. Remote work and hybrid arrangements forced businesses to reevaluate their cybersecurity measures.
This location shift led to a shocking increase in cybersecurity incidents. More specifically, the work-from-home environment led to significant changes in ransomware attacks.
Businesses of all sizes must understand the ransomware landscape. If you and your coworkers take the time to understand how ransomware attacks happen, you can take the necessary steps to protect your company.
Below are some general statistics on ransomware attacks that can shed some light on the situation…
In the last few decades, the world has seen a rise in cyber attacks.
Hackers love to use ransomware because it makes them a quick profit. Therefore, with the general rise of cybercrime came an increase in ransomware attacks.
Understanding changes in ransomware over the last decade can prepare employees and businesses to prevent future attacks.
Which kind of organizations do hackers like to target?
Unfortunately, that’s not a simple question to answer. Everyone’s at risk of falling victim to cybercriminals. Every industry and every step in the supply chain can become a target.
Some industries are more prone to ransomware attacks than others. The best way to prevent breaches is to learn from past victims.
Below are some statistics on ransomware victims, including industry, geographic, and organizational trends.
Enduring a ransomware attack can be very expensive for businesses. And it’s not just because of the ransom itself. When an organization’s data becomes encrypted by a bad actor, the business is basically on lockdown.
Downtime, wages, network costs, lost opportunities, and remediation efforts are all expenses organizations endure when hacked by cybercriminals.
Below are some scary statistics on ransomware costs that will make you want to improve your security efforts.
As you can see, there are several reasons why you should develop a digital security policy for your company. Not only can you reduce unneeded risks, but you can also reduce cybersecurity costs in the long run.
But even if you do everything right and take every last precaution against data breaches, they can still happen.
Hackers love to use ransomware attacks because, for them, it’s a lucrative form of illegal activity. The bad actors know companies can’t afford to lose their sensitive information or deal with long bouts of downtime.
Since you are bound to experience a ransomware attack in the next few years, you should update your incident response plan. Figuring out what to do if you fall victim to an attack can be tricky.
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