Report: 80% of IT Professionals Expect to Increase Spending to Support Ransomware Payments
Ransomware continues to plague corporations, as according to a new survey, 65% of IT professionals say ransomware is one of their organization’s biggest survival threats — and for 13% of organizations, it’s the single biggest threat.
The survey by Enterprise Strategy Group and Keepit, which included responses from 600 IT professionals from across the globe, also found that only 16% of organizations that had experienced a successful ransomware attack were able to recover all their data after the attack.
The research also found that 85% were targeted for additional extortion attempts and 57% paid more fees beyond the initial ransomware demand. This is particularly troubling, as paying ransomware demands can also expose organizations to sanctions risk. Still, eight in 10 respondents said they would likely increase their budget for ransomware payments over the next 12-18 months.
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