Guest Post: 56% Of Organizations Suffered A Ransomware Attack In The Last 12 Months Costing $1.1m Per Hack

According to data acquired by the Atlas VPN team, 56% of organizations worldwide experienced at least one ransomware attack in the past 12 months, with an average ransom costing victims $1.1 million.

The numbers are based on the Global Security Attitude Survey conducted by CrowdStrike, where 2,200 senior IT decision-makers and security professionals were interviewed on questions concerning cybersecurity in their workplace in the last 12 months. The survey took place between August and September of 2020.

Out of all the countries featured in the survey, businesses in India had the most ransomware events in the last 12 months. A whopping 74% of respondents from India said their organizations had suffered from ransomware attacks in the past year. 

Next up is Australia, where 67% of the respondents reported that their organization had suffered ransomware threats in the last 12 months, while in France, 60% of businesses faced ransomware attacks during the same period. Rounding out the top five list are Germany (59%) and the United States (58%). 

Asia Pacific companies pay the biggest ransom

Once attacked, organizations do not always pay ransom to cybercriminals. In fact, only 27% of respondents confirmed their organizations paid the cybercriminals as a result of a ransomware attack, with the average payment being $1.1 million per hack. 

Rachel Welch, Chief Operating Officer of Atlas VPN, shares her thoughts on why companies are reluctant to pay ransom, and what they can do to protect themselves from ransomware attacks:

Paying a ransom does not guarantee the organization will get its data back and also encourages the behavior of criminals. Instead, organizations should prepare an incident response plan and decide the actions that will be taken if the unfortunate event happens. While no organization is infallible to cyberattacks, having a response plan can mean you will come out of the situation with minimum damage.

Organizations in the Asia Pacific paid the most for ransomware attacks. The average ransom payment in this region in the last 12 months was $1.18 million.

Companies in Europe, the Middle East, and Africa paid $1.06 million per successful ransom attack over the past year, while businesses in the United States spent the least  — $0.99 million.

To read the full report, head over to: https://atlasvpn.com/blog/56-of-organizations-suffered-a-ransomware-attack-in-the-last-12-months-costing-1-1m-per-hack

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