Let’s be honest. Technology is great, but the reality of hackers inflicting damage to our gadgets – especially systems for organizations – is a hassle, expensive, and an issue that won’t go away any time soon.
For example, according to The Register, 9-in-10 companies attacked by ransomware would pay the attackers if hit again. These costly requests have doubled in 2020 to $1.85 million vs. $761,000 in 2019. According to Forbes, ransomware victims spent $2.09 million on remediation costs in the United States alone.
With 97% of businesses willing to pay the ransom after previously being attacked, the uptick in ransomware threats remains a prominent issue. However, hope is not lost. Increasing organization awareness of ransomware threats and what actions to take can improve the chance of preventing and resisting the urge to give in.
Conversely, the issue isn’t a lack of knowledge of these attacks. Instead, it is the feeling of desperation and frustration either from little awareness or the length of time to restore data – both of which can cost companies more money than they would if they paid the ransom. As technology evolves, the war on ransomware attacks is only getting started.
However, before thinking you’ll never be a victim, perhaps it’s time to ask yourself two questions: What lengths would you go if you were attacked, and how are you prepared to prevent it?
One easy way: prevent the attacks from happening in the first place.