There’s a continued proliferation of ransomware, heightened concerns around nation-state actors, and the need for acceleration of both digital and security transformation, a CrowdStrike survey reveals.
Proliferation of ransomware leads to more frequent payouts, costing millions
Survey data indicates ransomware attacks have proven to be especially effective, as 56% of organizations surveyed have suffered a ransomware attack in the last year. The COVID-19 pandemic catalyzed increasing concerns around ransomware attacks, with many organizations resorting to paying the ransom.
The global attitude shifts from a question of if an organization will experience a ransomware attack to a matter of when an organization will inevitably pay a ransom. Notable findings include:
Concern around ransomware attacks continues to increase, with the stark increase in this year’s findings (54%) compared to 2019 (42%) and 2018 (46%).
71% of cybersecurity experts globally are more worried about ransomware attacks due to COVID-19.
Among those hit by ransomware, 27% chose to pay the ransom, costing organizations on average $1.1 million USD owed to hackers.
The APAC region is suffering the most when paying the ransom with the highest average payout at $1.18 million USD, followed by EMEA at $1.06 million and the U.S. at $0.99 million.
Fear of nation-state cyberattacks can stifle business growth in post COVID-19 world
Nation-state activity continues to weigh heavily on IT decision makers, as 87% of respondents agree that nation-state sponsored cyberattacks are far more common than people think.
As growing international tensions and the global election year have created a nesting ground for increased nation-state activity, organizations are under increased pressure to resume operations despite the increased value of intellectual property and vulnerabilities caused by COVID-19. Key highlights include: