Cybersecurity experts agree that ransomware attacks are now the world’s most pervasive cyberthreat for businesses.
The threat only gets worse when attackers extract a company’s financial data and store it away before locking up the victim’s network. The cybercriminals then demand a ransom for the data with no safe guarantee of a confidential return.
According to one international IT security company, the global average cost to remediate a ransomware attack in 2020 was more than $700,000.
To improve their cyber resilience, companies are investing in prevention and detection controls that will help them quickly recover from a cyberattack. See best practices for limiting ransomware here.