Data Protection August 22, 2023

One simple way to cut ransomware recovery costs in half

4 min read - Whichever way you look at the data, it is considerably cheaper to use backups to recover from a ransomware attack than to pay the ransom. The median recovery cost for those that use backups is half the cost incurred by…

Risk Management June 21, 2023

Paying ransomware’s ransom: Why it’s time to reconsider

4 min read - Each year, we continue our everlasting hope that ransomware attacks will disappear. The unfortunate reality is that ransomware is as prominent as ever. Experts predict that ransomware attacks will only become more frequent and sophisticated, posing an even greater threat…

News April 24, 2023

Why are a record low number of ransoms being paid?

4 min read - It wasn’t long ago when it seemed like ransomware had the world by the throat. In 2020, a study surveying over 5,000 IT managers found that ransomware hit over half of them in the prior year. Another study showed that…

Government October 11, 2022

How the US government is fighting back against ransomware

6 min read - As ransomware-related payments surged toward $600 million in the first half of 2021, the U.S. government knew it needed to do more to fight back against cyber criminals. For many years, the Treasury’s Office of Foreign Assets Control (OFAC) had…

Risk Management October 4, 2022

Why do ransomware gangs keep coming back from the dead?

4 min read - Ransomware gangs are major players in the cybersecurity space, especially in recent years. ZDNet reported that ransomware gangs increased their payments by over 311% from 2019 to 2020, with totals for all groups exceeding $350 million in 2020. Ransoms continued…

News August 6, 2021

Ransomware Costs Expected to Reach $265 Billion by 2031

2 min read - Think ransomware is expensive now? It’s not predicted to get any cheaper over the next decade. Ransoms could cost victims a collective total of $265 billion by 2031. The estimate is based on the prediction that the price tag will…

Advanced Threats July 16, 2021

Cyber Insurers Might Be Making the Ransomware Problem Worse

4 min read - In mid-May, one of the largest insurance companies in the U.S. paid $40 million to ransomware attackers. Two people familiar with the matter told Bloomberg that the malicious actors stole an undisclosed quantity of data and then effectively locked the…

News June 11, 2021

What’s Behind Rising Ransomware Costs?

3 min read - On June 9, 2021, the U.S. division of a global meat company paid $11 million to the attackers who targeted its facilities with ransomware. An executive at that division confirmed the payment to the Wall Street Journal and said it…