Concerned about Ransomware? Worried about your data?

2023 was the most devastating year yet for ransomware attacks, with businesses forking over $1 billion in ransom payments for the first time ever – and 2024 is expected to be even worse. Beyond the payments, the average cost of each ransomware attack last year was over $5 million. Given these unprecedented statistics, ransomware attacks could be the largest, looming threat to your business in 2024. (FisherPhillips, 2024)



The $1.1 billion tally of ransoms paid in 2023 was particularly shocking because it nearly doubled the $567 million in ransoms paid out in 2022. (FisherPhillips, 2024)



That record-breaking $1 billion-plus in extortion payments was a result, in part, of the sheer number of ransomware attacks in 2023. Cybersecurity firm Record Future counted 4,399 ransomware attacks last year, based on news reports and ransomware gang public listings of victims on their dark-web sites, a tactic the groups often use to pressure victims while threatening to release their stolen data. ...Compared to just 2,581 total attacks in 2022 and 2,866 in 2021. (Wired, 2024)



4.88M. The global average cost of a data breach in 2024—a 10% increase over last year and the highest total ever. (IBM, 2024)



29% of respondents stated their companies were forced to remove jobs following a ransomware attack. (Cybereason, 2021)



42% of companies with cyber insurance policies in place indicated that insurance only covered a small part of damages resulting from a ransomware attack. (Cybereason, 2021)



Not including the payouts, the average cost of a ransomware attack – including detection and escalation, notification, post-breach response, and lost business – rose to $5.13 million in 2023, which represents a 13% increase from 2022. (FisherPhillips, 2024)