Ransomware: ransom is paid in most cases
A study by backup specialist Veeam reveals that many companies pay the ransom demanded by cybercriminals when they are blackmailed with ransomware.
Three out of four companies have already paid a ransom for their data due to a ransomware attack. A third of companies are still unable to recover their own data. That's according to the "Ransomware Trends Report 2022" from backup, recovery and data management specialist Veeamfor which 1000 IT executives were surveyed.
Patches and upgrades
Seventy-two percent of organizations were partially or fully affected by attacks on their backup repositories, drastically impacting the ability to recover data without paying the ransom. According to Veean, 80 percent of successful attacks targeted known vulnerabilities, underscoring the importance of patching and software upgrades.
Almost all attackers attempted to render backup repositories unusable to prevent the victim from restoring the data without paying the ransom. "Paying cyber criminals to restore data is not a data protection strategy," emphasizes Veeam CTO Danny Allan, stressing the need for effective protection measures up front.
No access despite ransom
According to the report, the likelihood that paying the ransom will result in no data is one in three companies. Notably, 19 percent of companies did not pay the ransom because they were able to recover their own data. That's what the remaining 81 percent must strive to do: recover data without paying the ransom, it says.
Survey participants confirm that 94 percent of attackers have attempted to destroy backup repositories, and in 72 percent of cases, this strategy was at least partially successful. This "capping of an organization's lifeline" is a popular attack strategy because it increases the likelihood that victims will have no choice but to pay the ransom.
