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According to a recent market study 1 , 71% of individuals surveyed said double and triple extortion tactics have grown in popularity over the last 12 months, and 65% agree that these new threats make it tougher to refuse ransom demands. The average ransom demands have soared between $50 million and $70 million.
Breach damages of $300k to $1 million may be within the risk tolerance for some, and many may expect to recoup damages from cybersecurity insurance. Overloaded Alerts 1Password found that 32% of their surveyed security professionals switched security tools or vendors in the past year to ones that provide more complete end-to-end solutions.
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