78% of Organizations Affected by Ransomware Encounter Additional Threats and Extortions

New data shows how likely it is for your organization to succumb to a ransomware attack, whether you can recover your data, and what’s inhibiting a proper security posture.

According to CyberEdge’s Cyberthreat Defense Report, in 2023:

• 7% of organizations were victims of a ransomware attack
• 7% of those paid a ransom
• 73% were able to recover data
• Only 21.6% experienced solely the encryption of data and no other form of extortion

Nearly 78% of victim organizations experienced one or more additional forms of extortion (CyberEdge mentions threatening to release data publicly, notifying customers or media, and committing a DDoS attack as examples of additional threats mentioned by respondents).

IT decision-makers were asked to rate on a scale of 1-5 (5 being the highest) the top inhibitors of establishing and maintaining an adequate defense. The greatest inhibitor (with an average rank of 3.66) was a need for more skilled personnel.

In second place, with an average ranking of 3.63, is low-security awareness among employees – something only addressed by creating a proper security culture with Security Awareness Training at the center.

These findings underscore the urgency for organizations to prioritize cybersecurity measures and invest in enhancing their defenses against ransomware attacks. If you have any questions or concerns about cybersecurity, please do not hesitate to contact us. Our team of professionals is here to help you safeguard your systems and data.

Information in this article was provided by our partners at KnowBe4.