53% of ransomware victims paid more than $100,000

A new study by Splunk has found that ransomware attacks are still a major threat to organizations, with 96 per cent of respondents saying they had encountered an attack in the past year. 52 per cent of those attacked claimed the impact on their business systems and operations was significant.

The study also found that 83 per cent of organizations that were attacked paid the ransom, with 53 per cent paying more than $100,000. Some 18 per cent paid the ransom directly to the hackers, while 37 per cent did so via cyber insurance and 28 per cent went through a third party.

According to the study, organizations are increasingly turning to AI to help them improve their cybersecurity posture. Some 93 per cent of respondents said they had extensively or moderately adopted integrated automation into their processes.

Furthermore, 86 per cent believe generative AI would plug skills gaps and shortages in the security team, taking over labor-intensive and time-consuming functions, and freeing up security staff to work on more strategic tasks.

Organizations are also concerned about the potential for generative AI to be used by adversaries to launch new attacks. Some 39 per cent of respondents said they were taking steps to train employees to better understand threats that might surface due to generative AI.

The sources for this piece include an article in ZDNET.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

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