The 2022 State of Ransomware Report

Categories: Cybersecurity, Fraud, Renato Marteleto|
The 2022 State of Ransomware Report

The 2022 State of Ransomware Report

Sophos has released its 2022 ransomware report based on real-world IT professionals’ experiences last year, across mid-sized organizations in 31 different countries. The study concluded that the number of attacks is up, with increasing complexity and impact. About 2/3 of organizations involved in this study indicated that they were hit by ransomware in 2021, which represents an increase of 78% over the previous year. Ransomware works by encrypting a company’s data so they cannot access it until they pay the ransom. The success rate of these attacks increased to 65% of organizations having the data encrypted as a direct consequence of the attacks, from 54% in the previous year. Lastly, 4% of the victims experienced an extortion-only attack where data was not encrypted but there was a threat to expose the data publicly. Organizations have also gotten better at restoring data after an attack: 99% of the organizations stated that they were able to get some of the encrypted data back and having backups was the primary method used to restore data. Despite that, 46% of the respondents reported having paid the ransom to restore data, indicating that “multiple restoration approaches [were used] to maximize the speed and efficacy,” on average only 61% of the data was restored, and only 4% got all the data back. Some interesting stats from 2022:

  • The average ransom payment was $812,360
  • 11% of payments were over $1 million
  • 21% of payments were less than $10,000
  • Manufacturing & utilities industries indicated having paid the highest amounts
  • Healthcare & local/state governments indicated paying the lowest amounts
  • Average time to recover from ransom attacks is about one month.

The full report can be found on the Sophos website 

To learn how EverChain facilitates compliant debt sales check out their website or email a dynamic member of the team today.

Related Posts

Categories