Ransomware 2021. Better, Faster & Stronger By Sean Remnant, Chief Strategy Officer, Ignition Technology Nearly every day a new headline about a security breach is reported. With businesses of all sizes and industries at risk. During the 2020 COVID-19 quarantine, phishing attacks increased by 350%. And worryingly it’s getting more and more expensive for victims of ransomware attacks to recover. It’s estimated that it costs over $84,000 for organisations to recover from a single ransomware attack, nearly double that of previous years reported. Global findings also show that only 8% of organisations managed to get back all of their data after paying a ransom, with 29% getting back no more than half of their data. It’s well documented that the pandemic, subsequent lockdowns and the increase in remote working have massively contributed to the rise of ransomware, but outside of that there are some other key factors not to be ignored:
- It’s big business and it works
- Ransomware-as-a-service is growing
- Platforms are becoming more sophisticated.