The majority of businesses who pay off after a ransomware attack are hit with a second attack, according to a study.
According to a report issued Wednesday by a cybersecurity firm, the majority of firms targeted by ransomware who paid to recover access to their systems were attacked again.
According to the study, which polled almost 1,300 security professionals from around the world, 80 percent of organizations who paid ransomware ransoms saw a second attack. Sixty-six percent of individuals who were hit a second time thought it was the same group that attacked the first time.
Censuswide, which conducted the research on behalf of the worldwide cybersecurity firm Cybereason, discovered that 25% of businesses struck by ransomware were forced to shut down. Furthermore, 29% were compelled to lay off workers.
Paying the ransom for data, according to Cybereason CEO Lior Div, does not guarantee complete and successful data recovery, nor does it safeguard a business from future assaults.
“Paying a ransom demand does not ensure a successful recovery, does not prevent the attackers from attacking the victim organization again, and, in the end, simply exacerbates the problem by encouraging further attacks,” Div said.
Those that paid to have their systems restored reported they were able to access their data again, but that some or all of it was corrupted. Only 3% reported they did not regain access to any of their data, while another 51% said their data recovery was effective.
Global ransomware damage losses are expected to hit $20 billion this year, according to the Cybereason report. According to the FBI’s annual crime report, total ransomware losses in the United States increased by over 225 percent in 2020, while cybersecurity complaints increased by 69 percent from 2019.
The increased usage of technology during the coronavirus pandemic is partly to blame for the rise in cyberattacks in 2020.
“In 2020, while the American public was focused on protecting our families from a global pandemic and assisting those in need, cyber criminals took advantage of an opportunity to profit from our reliance on technology to go on an Internet crime spree,” according to Paul Abbate, the FBI’s deputy director.
“These criminals targeted the most vulnerable in our society through phishing, spoofing, extortion, and various sorts of Internet-enabled fraud,” he stated.
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