The True Cost of Ransomware
Everybody knows the risks of ransomware include a financial cost. But, are you factoring in all the costs? Should you pay for ransomware? Is it worth it? We’ll discuss these topics on the program.
Our discussion focuses on the latest research from Sophos, “The State of Ransomware.” The study looked at 5,000 IT managers across 26 countries and got their opinions on a variety of issues related to ransomware. Here are a few of the highlights:
- Email is still the primary infection point for ransomware. Does this reflect poorly on cloud, since most email platforms today are cloud based? Maybe we should be discussing this within the professional managed services community?
- 51% of the surveyed organizations claimed to have a “significant” ransomware attack in the last 12 months. Of those successful breaches, 73% of the attacks involved an encryption of data.
- The average cost of a ransomware attack – $1.4M (if you pay the ransom) $730k if you do not.
- 27% of the respondents claimed that they did pay when hit by ransomware