Ransomware attacks cost manufacturing sector $46 billion in downtime since 2018, report claims

Newly-released research reveals the eye-watering costs that the manufacturing sector has suffered in recent years at the hands of ransomware. The analysis, by Comparitech, looked at 478 confirmed ransomware attacks on manufacturing companies between 2018 and July 2023, in an attempt to determine their true cost. Whereas many of the headlines connected with ransomware have focused on the ransoms demanded by cybercriminal gangs, Comparitech’s research also explored the cost of downtime – with day-to-day operations impacted, and production lines sometimes brought to a standstill meaning that…