Extortion: Most British Firms Pay The Ransom

The UK has become the country that is most likely to pay cyber criminals, with over 80% of businesses paying ransomware demands, twice as much as the global average. The global average was 58%, making the UK the most likely country to pay cyber criminals. 

Security firm Proofpoint's research found that over 75% of UK firms were affected by ransomware in 2021.

Proofpoint say that phishing attacks remain the key way criminals access networks. Phishing happens when someone in a firm is lured into clicking on a link in an email that contains malware, which in turn can help cyber-criminals access company networks.

Ransomware attacks are so-called because the hackers encrypt vital data and demand a ransom in order to get the information decrypted.Negotiating with cyber criminals in this manner is discouraged by governments and industry, but that hasn't stopped some high-profile firms paying enormous sums  up in order to get their systems working again.

Many organisations that have been victims of ransomware end up paying many times, according to the research. Only half regained access to data and systems after the first payment, the research found, as criminals got greedy and demanded more money.

But only 4% of those who paid a ransom were unable to retrieve their data, either because the key was faulty or the criminals just walked off with the money.

Proofpoint:       BBC:      Security Journal:       Data Recovery Speciaists:     BDaily:

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