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The average cost of ransomware attacks is $133,000, Sophos says

Ransomware

According to a new study from Sophos, the average cost per ransomware attack to businesses last year was $133,000, with 54% of organisations having been hit by attacks last year.

The results came from a survey of more than 2,700 IT decision makers from mid-sized businesses across 10 countries globally, with as many as 5% of these reporting a $1.3mn to $6.6mn total cost from ransomware attacks, often as a result of multiple incidents.

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“Ransomware is not a lightning strike – it can happen again and again to the same organisation,” said Dan Schiappa, Senior Vice President and General Manager of Products at Sophos. “Cybercriminals are deploying multiple attack methods to succeed, whether using a mix of ransomware in a single campaign, taking advantage of a remote access opportunity, infecting a server, or disabling security software.”

The cost to businesses includes ransom demands, downtime, manpower, device and networks costs, and lost opportunities and productivity.

In the aim of tackling this, Sophos has launched its new Intercept X software that looks to keep up with advanced exploit attacks using deep learning technologies that powers advanced malware detection.

“The latest version of Sophos Intercept X has added predictive, deep learning capabilities which can learn by experience, create a high accuracy rate, and a low false positive rate,” Schiappa continued. “Intercept X can bring the most advanced next-generation protection to any organisation, regardless of their current strategy.”

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