According to Forbes, businesses suffered 50% more cyberattack attempts per week in 2021, while small and medium businesses were an easier target for hackers because of their lack of resources or security expertise.

Furthermore, ransomware became a preferred cyber-weapon of choice for hackers in 2021. As it provides hackers a chance to filtrate systems and hold hostage data for payment of cryptocurrencies, the deployment of ransomware has become a growing trend in the past few years. When is the last time you tested your defenses against ransomware?

The Cybersecurity and Infrastructure Security Agency (CISA) continues to explain that ransomware is an ever-evolving form of malware designed to encrypt files on a device, rendering any files and the systems that rely on them unusable.

With its alarming growth, ransomware has become a threat to thousands of businesses and organizations worldwide. Check out these ransomware statistics from Cloudwards:

  • Ransomware cost the world $20 billion in 2021.
  • 37% of all businesses and organizations were hit by ransomware in 2021.
  • In 2021, recovering from a ransomware attack cost an average of $1.85 million.
  • A company was hit by ransomware every 11 seconds in 2021.
  • 32% of victims paid a ransom demand in 2021, but on average, paid victims only recovered 65% of their data.

While these statistics might seem alarming, projections for the future paint an even bleaker picture. According to Cybersecurity Ventures, if ransomware attacks continue to grow in scale like they have in recent years, the total cost of ransomware damages around the world could reach $265 billion by 2031.

Every size organization is at risk of a cyberattack. That’s where PCA comes in; providing cybersecurity insight and access to tools that take just minutes to get you started. We have been helping our clients stay secure for over 30 years!

One such tool is KnowBe4’s Ransomware Simulator. Offering a quick look at the effectiveness of your existing endpoint protection, this tool will simulate 22 ransomware infection scenarios to show you if your workstations are vulnerable.

Another is our Cybersecurity Solution Portfolio, a comprehensive layered set of easy-to-deploy threat protection tools and services. This portfolio offers proven safeguards against modern threats and helps you to meet compliance requirements. Another special offer is a FREE 60-Day Multi-Factor Authentication trial; allowing you to immediately bridge the security gaps that leave your company vulnerable to a breach. It takes just minutes to get started.

Don’t know where to start when it comes to identifying your cybersecurity posture? Contact us today.