10 More Ransomware Facts That You Need to Know

New ransomware facts take you deep inside the problem to find your risk!

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Ransomware has been a success story for cybercriminals, breaking records and wreaking havoc in an unprecedented wave of cybercrime. From nation-state threat actors to scrappy freelancers working on the dark web, ransomware is everywhere and it’s the most damaging risk that many businesses face. These 10 ransomware facts tell the tale of how ransomware has grown and evolved to become the cybercrime juggernaut it is today. After looking at all of the facts, it’s clear that every organization must be on guard against ransomware – and our prescription for protecting your systems and data is fast, easy and affordable for everyone.

See our original list of 10 alarming ransomware statistics (updated for 2021) here: SEE THE LIST>>

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10 Essential Facts About Ransomware in 2021

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1. 61% of organizations worldwide experienced a damaging ransomware incident in 2020. 

2. Ransomware demands are up by more than 40% already in 2021.   

3. 85% of ransomware attacks target Windows systems. 

4. IT teams are facing a 64% year-over-year increase in ransomware threat volume. 

5. Two in five SMBs were impacted by ransomware in 2020.  

6. The average ransomware payment in the third quarter of 2020 was $233,817,  

7.  Ransomware attacks are up by 150% over record-breaking numbers in 2020.

8. Ransomware accounted for 41% of cyber insurance claims filed in 2020. 

9. More than 80% of reported security incidents are phishing related. 

10. Hackers attack every 39 seconds or an average of 2,244 times a day 

A stunning one in four attacks that IBM Security X-Force Incident Response remediated in 2020 were caused by ransomware. Double extortion ransomware is a rising star as cybercriminals double down on their attacks to double their profits by requiring their victims to pay twice: once for the usual decryption code and a separate fee to not have the encrypted publicized by the gang. Practitioners of this tactic were responsible for more than 50% of all ransomware attacks in 2020.  

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Ransomware Facts: Industry and Geography

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Organizations located in Asia (33%) and North America (30%) and Europe (27%) were the hardest hit by ransomware attacks in 2020 and carry the most risk in 2021. Certain industries are at the top of the hit list too. even though ransomware practitioners love to be opportunistic and strike out at industries that are in the spotlight, they also know that some sectors are a sure thing. While every industry is at risk for dangerous ransomware attacks, some have a little more exposure to ransomware risk than others. 

The top 3 sectors at risk of data theft due to ransomware in 2020 were: 

• Manufacturing 25%  
• Professional Services  17%  
• Government Entities 13% 

Even if they pay the ransom (which is often illegal), there’s no guarantee that a companty that has been hit by ransomware will ever get their data back – less than 60% of companies that pay the ransom able to recover any of their data. Those businesses are losing more than just their data. They’re also losing valuable time. Complicating matters, only about half of the businesses have a cybersecurity incident response plan ready to swing into action in the event of a cyberattack, and oversight that dramatically slows down their mitigation and remediation efforts. In companies that aren’t quite as ready to handle trouble, the impact can be catastrophic and the lost time is high. 

• Companies impacted by ransomware lost an average of six working days.  
• An estimated 37% of companies experienced downtime that lasted one week or more. 
• About 60% of companies that suffer a cyberattack like ransomware go out of business. 

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Reduce Ransomware Risk Quickly and Affordably

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As these ransomware facts show every business is in danger from this devastating cyberattack. Take action now to keep your business out of cybercriminal sights and keep ransomware away from your systems and data with the powerful 1 -2 punch of BullPhish ID and Passly.

Passly includes the functionality of 3 solutions in one affordable package, including:

• Multifactor authentication (MFA)  stops 99% of password based cybercrime, and teamed up with single sign-on (SSO), this dynamic duo provides strong access control.
• Simple remote management and secure shared password vaults make it easy for IT teams to respond quickly in an emergency to isolate a compromised account.
• Automated password resets eliminate the constant wave of reset tickets, saving time, money and stress.

BullPhish ID is the streamlined, user-friendly solution to every training challenge, including:

• A frequently updated library of plug-and-play phishing simulation kits that can be scheduled to run automatically.
• Lots of options for customization and white labeling for everything from training content to access portals.
• Simple, clear reporting that enables everyone to clearly see employee progress and measure the value of training

Make sure that your business is taking a strong security posture against cybercrime threats like ransomware with the ID Agent digital risk protection platform including award-winning solutions Dark Web ID, BullPhish ID and Passly. Contact one of our solutions experts today for a personalized demo to get started. 

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