Does it pay to give in to ransomware crooks?

Well, according to a recent study, paying off the bad guys may actually result in a doubling-up of clean-up costs.

Based on new research conducted by Sophos, companies hit with ransomware that refused paying the ransom paid, on average, $730,000 in recovery costs.

Yes, that’s quite a sum. But check this:

According to the same research, companies hit with ransomware that did pay the crooks paid, on average, $1.4 million in recovery costs.

While many experts believe ransomware ransoms should not be paid, some companies have paid them out of desperation. Each case is different, but this new research is certainly illuminating.

“In any case, a company should have good network security and a good data backup process in place,” remarked Aaron Allen, Director of Technical Services at InCare Technologies. “Security should be layered, providing overlapping defenses that make it harder from criminals to break through. And backups should include offsite replication to ensure your data lives no matter the circumstances.

“All this should make the issue of paying ransoms moot. Your security makes it difficult for your data to be harmed or held for ransom. And in the case of disaster, you can restore your data and get back to business promptly.

“Get a free security or data backup consultation. Contact us at 205-278-8112, or fill out the form below. Phone and video conferences available.”

 

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See the Sophos State of Ransomware 2020 report via this link:
https://www.sophos.com/en-us/medialibrary/Gated-Assets/white-papers/sophos-the-state-of-ransomware-2020-wp.pdf

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