Ransomware attacks continue to rank among the most significant cybersecurity threats, disrupting organisations’ ability to provide crucial services and causing extensive data loss.
A study conducted by research specialist Vanson Bourne for Sophos, a global leader of innovative security solutions that defeat cyberattacks, provides valuable insights into the real-world ransomware experiences of organisations globally.
This comprehensive report is based on an independent, vendor-agnostic survey of 5,000 IT and cybersecurity leaders across 14 countries in the Americas, EMEA, and Asia Pacific. It examines the entire victim journey, from the root causes of attacks to their severity, financial impact, and recovery times.
The report found that 59 percent of organisations experienced ransomware attacks in 2023, a slight but welcome decrease from the 66 percent reported in the past two years. While any reduction is positive, the fact that more than half of organisations still face these attacks underscores the need for continued vigilance.
The likelihood of being targeted by ransomware generally increases with revenue, yet even small businesses with less than US$10 million in revenue are frequently attacked, the report says.
It has further incorporated new areas of study in this year’s report including an analysis of ransom demands versus payments and the impact of an organisation’s revenue on ransomware outcomes. It also highlights the role of law enforcement in ransomware remediation.
As adversaries continue to iterate and evolve their attacks, organisations must enhance their cyber defences, accordingly. For detailed insights, you can read the full report here!