Most Ransomware Victims Would Pay Up If Attacked Again

Ransomware is one of the fastest growing cyber-crimes in the world. Last year, 37% of businesses were victim to an attack.

In case you didn’t know, a ransomware attack is where cyber criminals infiltrate your network (or device) and steal your data by encrypting it. The data is still there, but you can’t access it.


Then they demand you pay a large ransom fee for the encryption key.


If you don’t pay the demand of tens or hundreds of thousands of dollars, they will delete your data. Even worse, sometimes they will receive the money from a company and still delete the data. 


It’s not just the cost of the ransom fee to worry about. There’s the stress, reputational damage and downtime that goes with it. In 2021, the average downtime suffered after a ransomware attack was 22 days.


The typical advice you’ll get from an MSP company is to not pay any ransomware demands.


However, a new survey has shown that a massive 97% of business leaders who’ve experienced a ransomware attack in the past would pay up quickly if they were attacked again.


A third of them would pay instantly. What does that say about how this is a nightmare situation for a business of any size? 


On average, only 65% of data is restored once a fee is paid, and a company is still vulnerable to further extortion. By letting cyber criminals know that your business pays ransom fees, it’s likely that you’ll face subsequent attacks in the future. 


So, what’s the best way to deal with ransomware? 


First, you should put in place the right security measures to try to prevent an attack:


  • Educate your people on cyber security and best practice
  • Invest in a good anti ransomware service
  • Implement multi-factor authorization across all your applications
  • Use a password manager
  • Make sure all updates are installed quickly
  • And you should always have a working backup in place – ideally one where older data is retained and cannot be changed

Protect Your Business With West Coast IT 


At West Coast IT Group, we highly suggest creating a response and recovery plan that will help in the event of a ransomware attack. Investing in a package that suits your business needs will ensure you get the protection that’s right for you – so you don’t have to suffer the downtime in the event of a ransomware attack. 


This is what we do. We help businesses increase their cyber security to reduce their chances of being affected. That’s why the team at West Coast IT is ready to help. We are here for everything from IT support in Oceanside, computer services in Carlsbad, Del Mar recovery solutions, and repair for laptops and beyond in Encinitas. We are your one-stop shop for everything IT and MSP, so you can get back to running your business worry-free.


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