Suffering from a ransomware attack can be quite detrimental to a business, so many organizations that are faced with such attacks end up trying to pay them as quickly as possible. However, recent studies have shown that doing so might be a mistake because of the fact that this is the sort of thing that could potentially end up making them suffer yet another attack within a thirty day period.
This data comes from a new report released by CyberReason, and it highlights just how risky it can be for businesses to give into the demands of malicious actors that are targeting them. 73% of the organizations that participated in this survey stated that they had suffered a ransomware attack in the past twelve months, and many of these businesses paid the demanded ransom.
49% of these businesses paid the ransom to mitigate potential revenue losses, 41% wanted to speed up the recovery process and 28% wanted to prevent any extended periods of downtime from occurring. In spite of the fact that this is the case, 80% of the businesses that paid the ransom suffered a second attack within thirty days, and 68% were asked for an even higher ransom than the one they paid previously.
Additionally, 54% of businesses that paid the ransom found that much of their returned data was corrupted. 37% still had to fire some employees to recover from the damage, 35% had C-Suite executives resigning from their posts and one third of them, or 33% to be precise, stated that they had to shut their businesses down temporarily.
This reveals that paying the ransom is usually a mistake with all things having been considered and taken into account. It does not guarantee that you will get your data back, and it might just mark businesses as prime targets for repeat attacks. Creating reliable data backups across multiple platforms, both physical and digital, is a much better mitigation strategy since it can allow a business to cut its losses and refuse to pay the ransom because they have a data backup to turn to.
Read next: According To The Recent Research YTStealer malware can hijack YouTube channels
This data comes from a new report released by CyberReason, and it highlights just how risky it can be for businesses to give into the demands of malicious actors that are targeting them. 73% of the organizations that participated in this survey stated that they had suffered a ransomware attack in the past twelve months, and many of these businesses paid the demanded ransom.
49% of these businesses paid the ransom to mitigate potential revenue losses, 41% wanted to speed up the recovery process and 28% wanted to prevent any extended periods of downtime from occurring. In spite of the fact that this is the case, 80% of the businesses that paid the ransom suffered a second attack within thirty days, and 68% were asked for an even higher ransom than the one they paid previously.
Additionally, 54% of businesses that paid the ransom found that much of their returned data was corrupted. 37% still had to fire some employees to recover from the damage, 35% had C-Suite executives resigning from their posts and one third of them, or 33% to be precise, stated that they had to shut their businesses down temporarily.
This reveals that paying the ransom is usually a mistake with all things having been considered and taken into account. It does not guarantee that you will get your data back, and it might just mark businesses as prime targets for repeat attacks. Creating reliable data backups across multiple platforms, both physical and digital, is a much better mitigation strategy since it can allow a business to cut its losses and refuse to pay the ransom because they have a data backup to turn to.
Read next: According To The Recent Research YTStealer malware can hijack YouTube channels
