While a “do not pay” ransomware policy may sound appealing in theory, thwarting attackers’ demand for ransom in exchange for stolen data is easier said than done.
A recent study conducted by Cohesity, a leader in AI-powered data security management, reveals this truth.
The study surveyed over 900 IT and security decision makers who “take an if not when” approach regarding cyberattacks on their business.
According to the study, 94% of participants stated that their organisation would pay a ransom to retrieve data and resume commercial operations, with 5% responding, “Maybe, depending on the ransom amount.”
The majority of those surveyed had paid a ransom in the previous two years, and the vast majority predicted that the threat of cyberattacks will increase dramatically by 2024. Worryingly, 79% of respondents reported that their firm has been the victim of a ransomware assault between June and December 2023. As a result, 96% of respondents believe the threat of cyberattacks to their industry would increase this year, with 71% expecting it to increase by more than 50%.
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This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents
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