State of Ransomware 2023
With the middle of the year coming, the annual reports on the state of ransomware have been released. What does the world of small and medium sized businesses and organizations look like today?
The news isn't too surprising, but there was an increase in 10% (from 58 to 68) among the respondents who had been the target of an attack. That means that organizations, many of which are investing more in cyber security, have the right idea in doing just that.
In successful attacks, there was an increase of 20% (up to 80% this year) where data encryption took place. This reinforces the golden rule of making sure that you keep good backups (they'd be one of the first things checked in any such event) and stresses the importance of having a plan for if such events happen. In these instances, 55% of organizations wound up paying the ransom and nearly 2/3rds of the respondents who were able to avoid that did so because of good backups.
US-based organizations also wound up with more down time and with higher ransom amounts than their global counterparts. The good news is that the amount of organizations who have had to pay those fees has gone down thanks to the increased awareness of cyber security.
If you'd like to discuss how Ridge Support could help you mitigate your risks, reach out to our offices to see how we can help.
