RMMagazine
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Tuttle, H. (2018). Only half of ransomware payouts result in data recovery. Retrieved from http://www.rmmagazine.com/2018/04/02/only-half-of-ransomware-payouts-result-in-data-recovery/
Tuttle (2018) describes how ransomware attacks are rising and people are losing their data to these attackers, who hack into computers and networks, take the information that is stored therein by locking out the users and obliging them to pay a ransom in order to get access to their data. This is why it is called ransomware. The hackers hold the data hostage (instead of people), and if the ransom is paid, then the hackers are supposed to give access back to the rightful owner. However, as Tuttle (2018) shows, there is really only a 50-50 chance of one actually getting their data back if they do decide to pay the ransom.
These findings come from the research firm CyberEdge Group, which “found that 55% of organizations were compromised by ransomware last year” (Tuttle, 2018). That is an extraordinary percentage, and indicates that companies must be prepared to face cyber risk in the future so that they do not have to deal with issues like ransomware infecting their computers and networks and causing them to lose access to their data and information storage systems.
However, the one good point that Tuttle (2018) does not is that the research firm CyberEdge Group shows that that ransomware attacks are actually on a decrease, because in 2016, 61% of organizations surveyed had been compromised by ransomware attacks. In other words, either hackers are using this method of attack less frequently or else businesses are starting to wake up and taking ransomware more seriously and are thus developing methods of combating these attacks, protecting their equipment and infrastructure and exercising proper risk management.
The bad news is that if a company is compromised by a ransomware attack, there is only a 50% chance of the data being recovered should the organization choose to pay the ransom. Otherwise, the company...
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