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An independent investigation of Sophos published on April 27 revealed that 66% of organizations worldwide were affected by a ransomware attack last year, a 78% increase from the previous year.
Enterprise technical decision makers operate in an increasingly hostile environment, where security threats proliferate in number and complexity. In this environment, frontline CIOs may find the stakes higher than ever: the report found that 86% of private sector organizations impacted by ransomware in 2021 said the attacks caused them to lose to their organization of activities or income.
Ransom payments have also increased, according to the report. The average payout over the past year was $812,360, nearly five times higher than the 2020 average of $170,000.
“Along with the escalation in payments, the survey shows that the proportion of victims who pay also continues to rise, even when they may have other options available,” said Chester Wisniewski, principal researcher at Sophos, in a statement sent to VentureBeat. “There could be several reasons for this, including incomplete backups or a desire to prevent stolen data from appearing on a public leak site.”
After a ransomware attack, there can be intense pressure to get back up and running as soon as possible, Wisniewski said. “Restoring encrypted data using backups can be a difficult and time-consuming process, so it might be tempting to think that paying a ransom for a decryption key is a faster option.”
The Sophos report was conducted in January and February 2022 by Vanson Bourne, a research firm, and surveyed 5,600 IT professionals in mid-sized organizations (100-5,000 employees) in 31 countries. Respondents were asked about their experiences with ransomware over the past year.
Read it full report by Sophos.
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