Cybereason‘s ‘True Cost to Business Study 2024’ underscores the escalating threat of ransomware to global organizations. The comprehensive survey discloses a concerning trend, with 56% of surveyed organizations experiencing more than one ransomware attack within the last two years. Alarming is the finding that nearly 80% of those who succumbed to paying the ransom were subjected to a subsequent attack, and a staggering 82% faced a repeat incident within a year.
The study emphasizes the ineffectiveness of paying ransoms, revealing that only 47% of the organizations that opted for this approach successfully retrieved their data and solutions uncorrupted. Greg Day, Global Field CISO at Cybereason, highlights the incomplete nature of many organizations’ ransomware strategies. He notes the absence of a documented plan or the right personnel to execute it, leading to the unfortunate prevalence of ransom payments. The study also sheds light on weaknesses in supply chain security, with 56% of organizations failing to detect a breach for 3-12 months, and 41% of attackers gaining access through supply chain partners.
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