Sophos 2022 Ransomware Report

Jan 23, 2023

As ransomware evolves and proliferates, it’s important to make sure your business is as secure as possible. Over the last year, the percentage of organizations hit by ransomware has almost doubled as attacks increase in volume and complexity.

Considering this rise in attacks, now is the best time for a cybersecurity upgrade. With DesTech’s Sophos solutions and cutting-edge cybersecurity training, you can be sure your business is always one step ahead of attackers.

For the latest insights into attack rates and more, read  The State of Ransomware 2022. Based on the real-world ransomware experiences of 5,600 IT professionals around the globe, it reveals:

  • How many organizations were hit compared to the previous year
  • Which industries are most impacted by ransomware
  • How ransom payments and ransomware recovery costs have changed.
  • The role of cyber insurance – who has cover, how often it pays out
  • The wider business repercussions of an attack

No time to check out the report? Here are our 5 key insights:

  • Of organizations that were victims of a ransomware attack, only 4% got all of their data back after paying the ransom. This highlights the value of prevention and making sure your organization has skilled personnel and the right measures in place to recover as much data as possible.
  • The average ransom payment (excluding outliers) was $812,360, 4.8x higher than the average in 2020. It’s not just the frequency of attacks that is going up, the costs are ballooning. Ransomware attacks aren’t simply an inconvenience, but pose a threat to the financial stability of a company as well.
  • 90% of ransomware attacks impacted the ability of their target organization to operate. We know paying these ransoms is a massive cost, but the hit to the reputation, reliability and revenue of the organization has the potential to be catastrophic.
  • The report states that 88% of surveyed organizations stated they had the right amount, or more than the appropriate cybersecurity budget. Throwing money blindly at cybersecurity won’t properly prevent or minimize attacks, that money must be used wisely and with a purpose.
  • Finally, 65% of ransomware victims say they have more cybersecurity headcount than they need and 23% believe they have the right level of staffing. The same strategic budget usage must be incorporated into your staffing plan. Having the right number of staff is important, but if they aren’t in the right roles or aren’t sufficiently trained, you are wasting money and leaving your organization open
    to an attack.

If that last point rings true for your organization, you’ll be happy to hear that DesTech is now offering a variety of comprehensive cybersecurity courses that are a boon to any organization or cybersecurity professional.

While the report may leave a sour taste in our mouths, the bitter truth is that ransomware is here to stay. That being said, there are many services, solutions and best practices available to your organization that will allow you to minimize attacks and remain operational should one occur. At DesTech, we know that upgrading and managing cybersecurity improvement can be quite a process, but it’s one we know well.

Click here to learn how we can provide you and your organization with some much needed peace of mind.

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