Why Organizations Pay Ransom To Hackers And What Needs To Be Done

Share post:

A report by CyberEdge has identified three possible reasons why companies pay ransomware hackers.

Reasons include the threat of exposing exfiltrated data, lower cost of delivery, and increased confidence in data recovery.

While 71% of the organizations were affected by successful ransomware attack attempts, the report showed that 63% of the organizations that suffered ransomware attacks paid the hackers.

The report identifies some of the factors that prevent organisations from adequately protecting themselves, including a lack of qualified staff due to the high level of resignation and lack of safety awareness among staff.

To help companies better prepare for ransomware attacks, they should take some decisive steps. These include increasing spending on IT security, proper training of their employees, and investment in appropriate security software.

While increasing spending on IT security could be a daunting task, adequate training of employees on security protocols could help organizations to protect themselves against ransomware attacks.

For more information, read the original story in TechRepublic.

Featured Tech Jobs

SUBSCRIBE NOW

Related articles

FTC says Microsoft’s layoffs at Activision Blizzard may threaten merger approval

The FTC has expressed dissatisfaction with Microsoft's layoffs at Activision Blizzard, challenging the integrity of the Microsoft-Activision deal....

Delaware court voids Musks $56 billion dollar compensation

Tesla's stock experienced a notable downturn following a Delaware court's decision to void CEO Elon Musk's massive $56...

IT World Canada strikes partnership with Canadian Cybersecurity Network

Goal is to make it easier for infosec pros to access each organization

Microsoft overtakes Apple as world’s most valuable company

In a notable shift in the tech industry, Microsoft has recently overtaken Apple to become the world's most...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways