5 Terrifying Ransomware Statistics Every Business Should Know

Can you imagine a world where online hackers could force governments to pay them for stolen data? Believe it or not, that world is our reality.

Countless ransomware statistics show how this crime has become a multi-billion dollar enterprise. It’s not only impacting governments but also private businesses, hospitals, and even schools.

Keep reading to get informed about the top five ransomware stats you need to know about.

1. Ransom Demands Are Getting Higher

What exactly are ransomware attacks? Why are they getting labeled the latest malware threats in 2019?

The way these attacks work is very basic. Criminals gain access to someone’s data, then they force them to pay a ransom to recover it.

The average ransomware demand is about $200-$400. Bigger targets, though, come with bigger price tags.

The mayor of Lake City, Florida, was recently forced to shell out $460,000 for two email servers. Earlier in the week, Riviera Beach city paid hackers over $600,000 for their records.

2. Most Ransomware Attacks Start With an Email

The number one question businesses want to know is: how is ransomware spread? Here are the top four ways data gets compromised:

  • Phishing emails
  • Drive-by downloads (visiting a compromised website)
  • Remote Desktop Protocol
  • USB or other removable media drives

Identifying how ransomware spreads will help you put preventative measures in place. Investments into cyber security training for employees will prevent most malicious attacks.

Here’s the first tip you need to tell your employees:

NEVER open an email attachment or link from an unknown source!

Email links are the top way in which ransomware attacks get started.

3. Ransomware Statistics Prove Attacks Cause Devastation

Are you unconcerned about how ransomware could impact your business? If so, then these statistics will help you understand the seriousness of the threat.

Here are a few of the potential impacts of a ransomware attack:

  • Loss of sensitive information
  • Financial losses trying to rebuild a new system or restore your old one
  • Disruptions in operations
  • Harm to your business’s reputation

Cybersecurity Ventures estimates ransomware will cost businesses over $11.5 billion this year.

4. Recovery Isn’t Always Possible Without Paying

Usually, viruses or malware can get fixed. Systems can get restored or rebuilt.

With ransomware, things are different.

Police discourage businesses from paying the ransom to recover their data. Despite that, the FBI also admits recovery might not be possible without paying up.

That’s why so many victims, especially hospitals, are paying the ransom. They can’t restore their business without the data, and criminals know that.

5. Attacks Are on the Rise

The history of ransomware may be short, but it’s filled with success stories. Ransomware stats continue to show that criminals are getting away with their attacks.

Due to the profitable nature of the crime, attacks are only expected to increase.

How Can You Prevent Ransomware Attacks?

These five shocking ransomware statistics should put any business on high alert. Cybercriminals see ransomware attacks as easy money. Don’t be the next victim.

What would you do if your business got struck by a ransomware attack? An investment in cybersecurity protects your business. Reach out to the experts at Pegasus Technologies now to learn how to protect yourself.