One in five companies report falling victim to ransomware attacks

Published: Monday, 11 October 2021 15:08

Hornetsecurity has released the results of a global study of IT professionals on their preparedness for ransomware attacks. Survey data showed that many organizations lack proper protection and prevention measures.

“The results of our recent survey made clear that both small and large companies remain vulnerable to malware attacks,” said Daniel Hofmann, CEO at Hornetsecurity. “Regardless of size, companies should be proactively taking holistic measures to protect themselves, including regularly updating disaster recovery plans, training staff, implementing effective spam filters, and protecting backups to avoid costly and time consuming data recovery efforts.”

Key findings of the ransomware study include:

1 in every 5 companies falls victim to ransomware attacks
21 percent of respondents indicated that their organization has suffered a ransomware attack, confirming that it remains one of the most prolific forms of cybercrime. Attacks often require ransom payments, entail lengthy data recovery efforts, and can cause long-term damage to companies’ reputations.

Half of respondents indicated that their management team delegates cyber preparedness to its IT department
Although almost all respondents (86.9 percent) indicated that their senior leadership team is aware of ransomware risks, nearly half reported that preparation and prevention measures are delegated to the company’s IT department. Because of the significant risks ransomware attacks pose, cyber protection and prevention policies should be company-wide priorities and not relegated to the IT department says Hornetsecurity.

Nearly 1 in 10 companies forced to pay ransom to recover data after ransomware attack
More than 9 percent of survey participants reported that their company had paid a ransom to recover its data. Conversely, over 90 percent of respondents indicated that although they were attacked, they were able to recover data from backups; however, many of those that were able to avoid ransom payment still reported losing files during the data recovery process.

Survey methodology

Hornetsecurity conducted a survey of more than 850 IT professionals located around the world across small and large organizations to determine their understanding of ransomware preparedness in September 2021.

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