Bob Zukis – Cybercriminals have figured out that fencing stolen data is a lot more work than just holding it hostage. It also doesn’t pay as well. Ransomware is a rapidly growing cyber threat, and attacks overall were up 25% in Q1.
Ransomware continues to proliferate as an effective cybersecurity threat because it works. It gets hackers paid.
The average ransomware payment is up 33% from Q4 of 2019 to $111,605. But the real cost is the impact on business, such as lost revenue or employee productivity or the impact to public services. The average business downtime due to a ransomware attack is 15 days.
The city of Florence, Alabama, was hit on June 5th with a ransomware attack and hackers demanded $300,000, which city officials said they’d likely pay to keep their citizens information off the internet. Read On:
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