Majority of firms hit by ransomware attacks now paying up

hawki · Jul 2, 2018

"Cyber security company Radware has released its 2018 Executive Application and Network Security Report, and for the first time in the survey’s five-year history a majority of executives reported paying a hacker’s ransom following a cyber attack.

Merrill Research surveyed 232 executives worldwide on behalf of Radware, and 69 percent said their company faced a ransom attack in the past year, compared with only 14 percent in 2016. Of those, 53 percent paid the ransom..."

https://www.information-management....firms-hit-by-ransomware-attacks-now-paying-up

guest · Apr 26, 2019

55% of SMBs Would Pay Up Post-Ransomware Attack
The number gets even higher among larger SMBs
April 25, 2019
https://www.darkreading.com/endpoint/55--of-smbs-would-pay-up-post-ransomware-attack/d/d-id/1334539

Security experts typically advise against paying for stolen data after ransomware attacks, but 55% of executives at small to midsize businesses say they would do exactly that.

The number jumps to 74% among larger SMBs with 150 to 250 employees, as stated in the AppRiver Cyberthreat Index for Business Survey. Nearly 40% went so far as to say they "definitely" would pay the ransom, at almost any price, to prevent leakage or loss of data.

Some respondents said the opposite. Forty-five percent of SMB leaders polled said they would not give in to attackers regardless of the ransom. Some SMBs in the legal services and nonprofit sector seem willing to pay ransom in exchange for stolen data, with 67% and 60%, respectively, saying they wouldn't work with cybercriminals regardless of the ransom amount or data value.
Click to expand...

AppRiver Cyberthreat Index for Business (PDF - 646 KB): https://www.appriver.com/files/documents/cyberthreatindex/Q2-2019-AppRiver-Cyberthreat-Index-for-Business-Survey%20Report.pdf

guest · Apr 25, 2020

Businesses Are Increasingly Considering Paying Ransomware Attackers
April 24, 2020
https://businessinsights.bitdefende...ingly-considering-paying-ransomware-attackers

Ransomware attacks are more common than previously thought in the small and medium business (SMB) community, with 46% of SMBs reporting falling victim to the data-crippling malware. 73% of those targeted have actually paid a ransom, new research shows.

The Infrascale research, based on a survey of more than 500 C-level executives, reveals that business-to-business (B2B) organizations are more likely to have suffered a ransomware attack than business-to-consumer (B2C) entities. Representatives from 55% of the B2Bs said they had been hit by ransomware.
However, B2C is far from immune to ransomware. 36% of this group said they have been victims of ransomware attacks at some point. 17% of SMBs in the survey said they fear their business is ill suited to fend off a ransomware attack.

In a key finding, 78% of SMBs in the B2B category already have paid a ransom, while 63% of B2C entities said they have done the same.
Interestingly, more than a quarter of the SMBs that said they have never paid a ransom said they would consider doing so.
Click to expand...

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