From securityqueens.co.uk
Ransomware can be a costly attack to organisations of all sizes. Recently Garmin fell victim to a ransomware attack, with reported ransoms of up to US$10 million in exchange to reinstate company files.
According to a The State of Ransomware 2020 by Sophos, the global average cost to remediate a ransomware attack (including factors such as downtime, ransom paid and missed profitable opportunity) was US$761,106. These staggering costs aren’t the only worry either, as ransomware attacks are also on the rise – with CyberEdge’s Cyberthreat Defense Report stating 62% of organisations fell victim to a ransomware attack in 2019, an increase from 56% in 2018 and 55% in 2017.