81% of Global Organization Paid Ransom To End Cyberattacks, Says, US-Based IT Firm Veeam
Cybersecurity Attack: 81% Organisations Globally Paid Ransom To End Cyberattack and Recover Data for Third Year in Row for 2023, Says, US-Based IT Firm Veeam Software .
Ransomware remains an ongoing threat for organizations and is the largest single cause of IT outages and downtime as it is about 81% of organisations globally have paid ransom to end a cyberattack and recover data for the third year in a row for 2023, a new report revealed on Tuesday.
Moreover, for the third consecutive year, more organizations 'paid but could not recover' compared to those that 'recovered without paying.' Ransomware is endemic, affecting 3 out of 4 organizations in 2023. AI is now enabling the creation of smarter, more advanced security, but it is also facilitating growth in the volume of attacks.
The report surveyed 1,200 respondents, including CISOs (or executives with similar responsibilities), security professionals, and backup administrators. Additionally, When Cyber attacks occurred, 26% of firms experienced a loss of productivity, and 25% faced disruptions to internal or customer-related services.
Furthermore, 45% reported increased workloads on their IT and security teams. 40% noted elevated stress levels and other personal challenges that are difficult to manage during regular operations, according to the report.
Artificial Intelligence (AI) and Machine Learning (ML) have become crucial tools in the fight against cyberattacks. As cyber threats evolve in complexity and sophistication, traditional security measures often fall short. AI and ML provide advanced capabilities that help organizations anticipate, detect, and respond to cyber threats more effectively.
"Organisations must take action to ensure cyber resiliency and acknowledge that rapid, clean recovery matters most. By aligning teams and bolstering cybersecurity with immutable backups, they can protect their valuable business data while Veeam keeps their business running and secure," said Dave Russell .
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