Ransomware Attacks: High Costs and Low Recovery Rates

A report from Veeam, based on a survey of 1,200 IT personnel from organizations that experienced cyberattacks in 2023, highlights the pervasive and costly nature of ransomware. It found that 41% of an organization’s data is compromised during a ransomware attack, with only 57% of that data being recovered. Ransomware is identified as the largest cause of IT outages and downtime.

The report reveals significant operational and human impacts of ransomware, including increased pressure on IT and security teams, productivity loss, and service disruptions. Notably, 63% of organizations’ backup and cyber teams lack synchronization, and 61% of security professionals and 75% of backup admins believe their teams need substantial improvements.

Despite 81% of organizations paying the ransom, one-third still could not recover their data. Moreover, the cost of paying the ransom constitutes less than a third of the total financial impact post-attack, and cyber insurance only covers 62% of the overall costs. The report emphasizes the importance of ensuring recoverable data and avoiding reintroduction of infections during recovery.

Source: Telecompetitor

To mitigate potential threats, it is important to implement additional cybersecurity measures with the help of a trusted partner like INFRA www.infrascan.net, or you can try yourself using check.website.