Increasing Number of Ransomware Targets Opting Against Ransom Payments

For an extended period, ransomware groups have instilled fear in various organizations, including businesses, schools, and hospitals. However, there is a positive shift as an increasing number of victims are now rejecting ransom demands.

In the fourth quarter, the percentage of victims succumbing to ransom payments reached an all-time low, standing at a mere 29%, according to cybersecurity provider Coveware, specializing in assisting companies against ransomware attacks. 

This decline is not an isolated incident but part of a growing trend that commenced approximately three years ago when around 60% of victims yielded to ransomware demands. Coveware attributes this change to the enhanced capabilities of the industry in responding to successful ransomware incidents. Despite these attacks having the potential to encrypt entire networks and pilfer sensitive information, many companies are now able to recover using their own backups.

Moreover, there is a heightened awareness among victims that paying a ransom provides no assurance of data deletion. Instead, there is a risk that the stolen data might be traded clandestinely to other cybercriminal groups, and the ransomware gang could exploit the information to target the victim again.

Coveware notes, “The industry continues to get smarter on what can and cannot be reasonably obtained with a rans

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