- Payment of ransom -requirements has actually become less effective, VEEAM -examination requirements
- Ransomware -striker costs companies millions
- Having alternative infrastructure can reduce downtime
New research has claimed that fewer and fewer companies are actually getting their data back after paying ransom, making them even more expensive when it comes to full recovery.
The survey of VEEAM found only one of three (32%) who paid up, submitted their data by 2024, compared to more than half (54%) in 2023. On the flip side, the number of organizations that recover their data without paying up is more than doubled (14%to 30%) in the same time period.
However, the impact of ransomware attacks with increased volume is reinforced and the fact that the British government plans to ban ransom payments from the public sector and critical national infrastructure organizations.
Restore from Ransomware is not guaranteed
Veeam says that nearly two -thirds (63%) is unable to recover from a place -inclusive crisis because they lack alterative infrastructure options. Stop, which can last weeks, can cost up to £ 1 million per hour of downtime, the company claims.
By 2025 we have already seen a number of high profiled attacks in the UK. M&S and CO-OP attacks earlier this year could cost up to £ 440 million, and a recent attack on Jaguar Land Rover could cost £ 50 million a week.
The report also covers a shift in tactics, with many now bypassing encryption completely and choosing data theft and extortion. Others simply want to cause disturbance without necessarily focusing on financial gain.
Veeam EMEA GM and SVP Tim Pfaelzer explained that “attackers remain an unreliable method of recovering data,” thus the total ransomware payments fell 22% between 2023 and 2024.
When looking ahead, Pfaelzer emphasizes the importance of having backup systems in place: “[Businesses] Must focus on improving baseline -data resistance with alternative infrastructure and robust backups to fully negate the need to ever pay ransom. “
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