Ransomware Hit 61% of Companies

Wednesday, March 15, 2017 @ 03:03 PM gHale

Ransomware is the rage — and it works.

If you don’t believe that, understand that 61 percent of organizations ended up compromised by ransomware in last year, a new report said.

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Of those affected by ransomware, 54 percent managed to get their data back without paying the ransom, while another 33 percent chose to pay the ransom to recover their information, according to a report from CyberEdge Group, which released its latest Cyberthreat Defense Report. Another 13 percent refused to pay and lost the data as a consequence.

The number of network breaches is rising, while one of the biggest security risk for any organization is posed by under-trained employees, the report said. One of the positive moves, though, is organizations are starting to invest more in security.

The number of cyberattacks is also on the rise. Back in 2014, 62 percent of organizations felt the affects of successful attacks. In 2015, the number rose to 70 percent, only to reach 76 percent in 2016. This year’s success rate was at 79 percent, the report said.

Respondents ended up asked which of 11 applications and data-centric technologies their organizations used. Database firewalls and web application firewalls had the highest adoption rate, with the number hitting 65 percent.

The highest risk, however, continues to be employees themselves. More often than not, because they are not properly trained on how to keep their data secure, they might tap on a link they shouldn’t, access an improper website or download and run an file infected with some type of malware. Once in the network, the infection spreads like wildfire.

“If the definition of insanity is doing the same thing repeatedly and expecting a different result, then perhaps, as an industry, we’re going insane,” said Steve Piper, chief executive of CyberEdge Group. “Each year, we invest more in security, yet frequency and severity of data breaches rise.

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