Guess what happens when ransomware fiends find ‘insurance’ ‘policy’ in your files
A recent Dutch study has uncovered alarming insights into the tactics of ransomware attackers. It shows that when these cyber crooks find evidence of cyber insurance in a company’s files, they significantly increase their ransom demands. This research has serious implications for how businesses approach cybersecurity and insurance policies.
Key Points
- Ransomware attackers raise ransom demands by an average of 2.8 times if they discover a victim has cyber insurance.
- In cases of double-extortion attacks, insured victims are quoted 5.5 times more than those without insurance.
- Companies with cyber insurance have a higher likelihood of paying the ransom, with 44% paying compared to 24% of uninsured victims.
- Insured victims typically face average ransom payouts of around €708,105 ($800,000), whereas uninsured victims average only €133,016 ($150,000).
- Phishing emails are the leading cause of ransomware infections, with other significant vectors being spam and malicious mobile apps.
- A robust backup system can reduce the likelihood of paying ransoms by 27 times, allowing for recovery without giving in to criminals.
Why should I read this?
If you care about cybersecurity and protecting your business from ransomware threats, this article is a must-read! It dives deep into the mechanics of today’s ransomware landscape, making it clear how crucial it is to not just have cyber insurance, but also solid backup strategies. Understanding these insights could save your company from hefty ransom payments and headaches down the line.
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