Ransomware attacks are a nightmare for any business and can range in severity – from annoying to catastrophic.
Experts predict that 2019 ransomware attacks will cost businesses roughly $11.5 billion!
As always, unsuspecting small & medium-sized businesses will be the main focus for these attacks, as they’re the most likely to pay.
So, we’ve put together a shortlist of 10 of the most useful facts and statistics about ransomware.
Hopefully, this will help you understand and prepare yourself against this increasing cybersecurity threat!
Here are the 10 most Terrifying Ransomware Facts & Stats! (2017-2019)
1. Ransomware makes approximately $25 million in revenue for cybersecurity hackers annually
2. Companies & businesses will become a victim of ransomware roughly every 14 seconds in 2019, and every 11 seconds by 2021.
3. It took 34% of businesses hit with malware a week or longer to get their data back and up and running
4. Phishing emails containing ransomware increased 109 percent from 2017 to 2019
5. Baltimore City Government lost over $18 million in a recent 2019 ransomware attack. It took them well over a month to regain their data
6. When a ransomware attack occurs, the downtime costs organizations more than $64,000 on average
7. Bitcoin is the most popular form of payment for ransomware attacks – 98% of all ransomware payments were made in Bitcoin
8. 81% of all ransomware attacks were targeted toward Enterprises in 2018
9. Ransomware-induced downtime cost businesses around $8,500 per hour
10. According to IBM, a quarter of business executives would be willing to pay between $20,000 and $50,000 to regain access to encrypted data.
So there you have it, that was a quick list of 10 of the most terrifying ransomware facts & stats that you should be aware of.
What do you think, will ransomware attacks continue to get worse?
The current outlook is certainly concerning, especially as hackers know that businesses will more than likely pay whatever it takes to get their data back.
That’s why it’s important to plan ahead for this type of event and prepare yourself to be able to handle a ransomware attack.
At FilingBox, we firmly believe that adding the right prevention solution to your workflow is the safest way to protect yourself from ransomware.
Click here to request a free demonstration of the ultimate ransomware prevention solution.