A report by CyberEdge has identified three possible reasons why companies pay ransomware hackers.
Reasons include the threat of exposing exfiltrated data, lower cost of delivery, and increased confidence in data recovery.
While 71% of the organizations were affected by successful ransomware attack attempts, the report showed that 63% of the organizations that suffered ransomware attacks paid the hackers.
The report identifies some of the factors that prevent organisations from adequately protecting themselves, including a lack of qualified staff due to the high level of resignation and lack of safety awareness among staff.
To help companies better prepare for ransomware attacks, they should take some decisive steps. These include increasing spending on IT security, proper training of their employees, and investment in appropriate security software.
While increasing spending on IT security could be a daunting task, adequate training of employees on security protocols could help organizations to protect themselves against ransomware attacks.