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The cyberthreat landscape keeps evolving at lightning-speed. According to the latest 2022 BrightCloud® ThreatReport , small to medium-sized businesses (SMBs) are particularly vulnerable to becoming a victim of a ransomware attack. Ransomware, malware and phishing threats keep evolving.
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While various sectors in Australia were noted to be particularly targeted, the Avaddon strain has been instrumental in the successful network compromise of the Asian division of the AXA Group , one of the biggest cyberinsurance companies in the world.
With that in mind, Thales has launched the 2022 Thales Data ThreatReport Critical Infrastructure Edition, which includes responses from 300 security leaders and practitioners within critical infrastructure organizations. Download the full Thales 2022 Data ThreatReport for the Critical Infrastructure for more information.
Many victims wind up paying a fraction of that amount, as they may be able to negotiate these charges down or rely on cyberinsurance coverage to cover a portion of these costs. The average ransom demands have soared between $50 million and $70 million.
However, even after the Colonial Pipeline attack, less than half of businesses (48%) have a formal ransomware plan according to the 2022 Thales Data ThreatReport. In addition, the report found that one in five businesses have paid or would pay a ransom to get their data. Cyberinsurance coverage ramps up.
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