Victims of ransomware attacks are paying higher ransoms than ever before, but there are signs that organisations are starting to take heed of cybersecurity advice, making them more resilient to cyber criminals.
According to analysis by cybersecurity researchers at Sophos, the average ransom payment made by victims to choose to pay cyber criminals for a decryption key to restore their files and servers following a successful ransomware attack has increased to $812,260 – an almost five-fold increase compared with the 2020 average of $170,000.
And the proportion of victims who pay ransoms of over $1 million has also risen substantially, up from 4% of ransom payments in 2020 to 11% in 2021 – meaning one in ten successful ransomware attacks is providing cyber criminals with a million dollar pay day.
According to analysis by Sophos, just under half of ransomware victims pay the ransom, perceiving it to be the quickest way to restore the network – even though decryption keys provided by cyber criminals can’t be trusted and paying a ransom might just show that the victim is an easy target who could be extorted again.
Ransomware attacks continue to be successful because