Average Ransomware Attack Payments Total $6,700 Per Incident

The cost that a victim of a successful ransomware attack need to pay on average is terrifying.
According to the most recent statistics gathered by Coveware, every case of a compromised computer will cost a significant amount, at about $6,733, a huge 13% increase from the previous quarter.

The increase was partly attributed to the fact that there is an increase in the number of strains that are demanding higher than average payments. Among the most common ones are the Ryuk and SamSam families of ransomware. There is another good reason that is driving the increase. It is the fact that following the first wave of attack, the hackers will gather characteristics that allows them to focus on firms that are much easier to breach and convince to pay. If you combine these two, they will have a surefire low risk and high profit enterprise.

Coveware CEO, Bill Siegel, said that the Q4 data gathered by his company is based on 226 varying ransomware attacks that were reported to as well as triaged by his firm. He gave the warning to companies that opt to pay the ransom that they have no guarantee that they will get an unlock key they can use to decrypt their files and get their files back. There is so much more than a bit of risk involved in providing the hackers what they want.

Unfortunately, several firms do not have a strong computer backup practices, and when they do not pay, their files are going to be lost forever. That is definitely an awful place for a company to be in, but, there is one simple fix for that problem.

With the trend of increasing ransomware attacks expected to continue this year, you need to make sure that you have a reliable backup system in place. Afterall, $6,733 per attack will quickly add up, and it is indeed a punishing price that any firm have to pay. Obviously, the amount is costlier than having a reliable backup system set in place.

Call SpartanTec, Inc. if you need professional help in setting up a strong backup system.

 

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