Sophos, the world’s leading cloud-native security platform, has published its annual review of real-world ransomware experiences in its “State of Ransomware 2022” report.
According to the report, 66% of the organizations in the survey suffered from ransomware in 2021, said a press release issued on Thursday.
Sophos compiled the report after surveying 5,600 organizations from 31 countries across Asia-Pacific, Central Asia, Middle East, Europe, Americas, and Africa. Altogether 965 companies shared their ransomware payment details during the survey.
The report says that organizations that had their data encrypted in the ransomware attacks roughly paid $812,360 or over Tk7 crore to get their data back.
Additionally, 46% of affected organizations that had their data encrypted paid the ransom despite having other data recovery methods, including backups.
The findings confirm that ransom payments are getting higher with time as more victims are paying with time. Apart from that, many global organizations depend on cyber insurance to help them regain their data from ransomware attacks.
Growing cybersecurity threats, ransomware attacks cause a massive impact on organizations as the estimated time to recover the data and recover from the attack takes around a month.
Best practices that can help protect against potential ransomware and cyberattacks include reviewing security controls regularly to ensure that they meet the organizations’ needs.
Keeping information backed up can also help reduce downtime if any unwarranted data breach occurs.
