How much does the average ransomware attack cost businesses?
According to a 2019 report from IBM, the average cost of a ransomware attack for businesses is $4 million. This number has increased significantly from the $1.6 million average cost in 2018. The increase is likely due to the fact that ransomware attacks are becoming more sophisticated and costly to remediate. In addition to the direct costs associated with paying a ransom and restoring data, businesses also incur indirect costs such as lost productivity, reputation damage, and customer churn.
The most costly ransomware attack to date is the 2018 attack on Maersk, which caused $300 million in damages. Other notable ransomware attacks include the 2017 WannaCry attack that impacted 150 countries and the 2016 Petya attack, which affected businesses in Ukraine, Russia, and the US.
Ransomware attacks can have a devastating impact on businesses of all sizes. In order to protect themselves, businesses should invest in security measures such as advanced anti-malware protection, data backup and recovery, and employee training.
What is the most common type of ransomware?
The most common type of ransomware is known as “locker” ransomware. This type of ransomware will encrypt your files and then demand a ransom in order to decrypt them. Locker ransomware is typically spread through email attachments or malicious websites.
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