![]() ![]() ![]() ![]() Payment of these ransoms, David Bennett, Object First’s CEO, told El Reg, has been widespread among those desperate to get compromised businesses back up and running when they are unable, or don’t have sufficient time, to hunt down and restore previous versions of their data held on premises or in the cloud.Īnd the impact of the global ransomware problem is huge. These attacks can involve encrypting an organization’s backup data then demanding a fee for its decryption. Ransomware cyber-crime remains “by far” the most common tactic employed by cyber criminals, with this type of attack launched approximately every 11 seconds according to calculations from Cybersecurity Ventures. Business downtime can have devastating impacts on reputation and financial performance, and sixty percent of the surveyed organizations stated that they had been forced to hike the price of their services or products because of a data breach. The latest IBM Cost of a Data Breach Report 2022 estimates that the average cost of a data breach hit $4.35 million in 2022, with some 83 percent of organizations found to have had more than one breach during the year. Sponsored Feature: The impact of cyberattacks around the world continues to escalate at an alarming rate, even after reaching “an all-time high” last year, new research warns. ![]()
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