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Ransomware Costing Companies

Global business revenue losses from ransomware attacks are estimated to reach more than $20 billion by the end of 2021.

That is according to Cybereason's "Ransomware: The True Cost to Business", a report in which the authors surveyed 1,236 organizations who have been targeted in ransomware attacks in recent years.

The report states 66 per cent of respondents reported significant financial loss related to attacks. While many bounced back over time, some never fully recovered from the loss of revenue and corruption of their data. 

Additional findings in the report include:​

As you can see in the infographic, companies experienced serious issues in a variety of sectors after an attack. Perhaps the most concerning statistic, however, is 80 per cent of companies exeprienced another attack despite paying the ransom. 

These findings emphasize the importance of having proper security systems in place to protect your company, employees, and important digitally stored information.

It recommends investing in sound prevention strategies and being prepared with backups of information in the event of an attack.

As a technology consultant, Prophet Business Group wants to ensure your business and its data is protected.

Please email us at solutions@prophet.ca or call us at 204-982-9890 if you have any questions about cyber security.

Click here to view the full report.

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