2022 was a challenging year for cyberspace businesses. Companies faced ransomware, the continued effects of the SolarWinds and Log4j exploits, and rising cyber insurance premiums. Unfortunately, the consequences of malware have gotten worse year after year.
The costs of cyberattacks have risen dramatically, and many analysts predict that they will continue to rise. Despite the efforts of businesses and governments to combat malware, it does not appear that the online world has reached a tipping point in the battle. Let’s look at six reasons why 2023 could be the worst year for malware yet.
1. The cost of ransomware continues to increase
Ransomware attacks are a constant threat to businesses worldwide. In recent years, the number and scale of ransomware attacks have increased dramatically. According to IBM, the average ransomware attack will cost businesses $4.54 million in 2022—and that figure does not include the cost of the ransom itself.
While many businesses have strengthened their cybersecurity teams to better prevent ransomware attacks, there are still many vulnerable targets for hackers to target. Schools, local governments, and hospitals have all proven to be easy targets for ransomware groups. Worse, cybercriminals have discovered that by threatening to release organizations’
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