Ransomware attacks are growing and are becoming more prevalent every year. Per the Washington Post, Ransomware payments spiked a whopping 70% last year alone, and the victims paid more than $600 million in 2021.
“This $600 million, while extremely large, is still the absolute floor in ransomware payments made, with the real number likely being much higher,” said Kim Grauer, Head of Research at Chainalysis.
Not only that, but the number of ransomware criminal organizations increased in 2021, and it is estimated that there are 140 groups out there, doing significant damage.
And the average payments these cybercriminals are receiving? About $118K in 2021, up from $88K in 2020, and $25K in 2019. I put these figures in bold, because that is what cybercriminals are becoming, BOLD.
To add insult to injury, insurance premiums have skyrocketed over the last year due to these attacks, and spending on cyber insurance has increased by over 90% in the past year.
Ransomware is crippling all facets of business and industries and doing so without impunity. So what can you do as an IT professional to make sure your business is protecting your data from these attacks.
A good start would be visiting our webpage below to register to take our Ransomware Assessment, as well as access to other articles on protecting against Ransomware, not only that, but you can also register for some upcoming Ransomware protection webinars.
Visit our page here to register to take our Ransomware Assessment: