Technology Reseller v41

01732 759725 24 Average Cost of Data Loss The Cost of Ransom Payments The business paid it and we were able to get our data back 17% 16% 27% 2% 39% Ransomware Victim Responses This graph shows whether or not businesses paid the ransom and what the results were. The business paid it but we are still unable to recover our data The business refused to pay it and we then dealt with losing the data The business refused to pay it because we were able to recover the data Not sure how we responded and what data was lost or recovered $18K - $35K $5M - $15.6M After the cost of remediation, downtime, lost opportunity and reputational harm are considered, what’s left is the ransom payment itself. It’s important to note that the FBI does not support paying a ransom to cybercriminals . According to the FBI, “Paying a ransom emboldens the adversary to target other organizations for profit, and provides for a lucrative environment for other criminals to become involved.” 4 The FBI goes on to say that paying a ransom does not guarantee an organization will regain access to their data. According to our research, nearly 17 percent of businesses paid the ransom but were still not able to decrypt their data . Another 16 percent refused to pay the ransom and accepted the consequences, presumably begrudgingly. Depending on the cost of the ransom payment, that may have been the preferred option. Ransom demands vary widely. About of quarter of businesses in our survey were asked to pay between $11,000 and $50,000, and almost 35 percent were asked to pay between $51,000 and $100,000. According to the Verizon Data Breach Investigations Report, small-scale data loss incidents (comprising about 100 data records) costs businesses between $18,120 and $35,730, while large-scale data loss (comprising 100 million or more data records) can cost between $5 million and $15.6 million. 5 Average cost of small-scale data loss (about 100 data records) Average cost of large-scale data loss (about 100M+ data records)