Per Sophos, nearly three-fourths of ransomware attacks in 2019 resulted in data being encrypted. 94% of the organizations involved in those attacks ultimately got their data back, either via backups (51%) or by paying the ransom (26%). Give the criminals behind ransomware credit for this much, at least: Organizations that paid up got their data back 95% of the time.
It wasn’t cheap, though. On average, Sophos says, rectifying an attack whose victim paid the ransom cost $1,448,458 last year. Recovering from an attack in which no ransom was paid, by contrast, cost $732,520.
On the plus side, when an organization with cybersecurity insurance opts to pay off an attacker, according to Sophos, their insurer foots the bill 94% of the time. Disturbingly, however, while 84% of the organizations Sophos polled have cyber insurance, only 64% have a policy that covers ransomware.
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