According to a report by IBM, the average cost of a ransomware attack, not including the cost of the ransom, is $4.54 million. Further reports by Sophos and Palo Alto, estimate that the ransom amount averaged between $570,000 and $812,360.
As the damage caused to organizations because of such attacks are in manifold, experts report that the ransom itself accounts for only around 15% of the overall costs incurred as a result of the attack. There are several additional costs in terms of data recovery and remediation, business loss due to downtime, loss of the brand’s image and reputation, legal expenses, and cost of security implementations. And to top it all off, there is the increased risk of a repeat attack.
Download this E-book and learn:
- The change in the Threat Landscape due to this Ransomware-as-a-Service subscription-based business model
- An in-depth study of five ransomware strains: JigSaw, Virlocker, Conti, Onyx, and BlackCat
- Leveraging SIEM to combat such attacks