Counting the cost of ransomware

Ransomware attacks have surged recently and the disruption they can cause to the operation of a business can cost many times more than the ransom.

Education website Cyber Security Degrees has produced an infographic looking at the impact of ransomware and at how businesses can protect themselves.

Among the highlights are that small businesses account for the majority of attacks, but it's larger enterprises that bear the heaviest financial burden. Average ransom demand for a small business is $108,000, larger firms face demand of more than double this.

The cost of recovering from an attack is higher though and the total cost of an attack is up by 243 percent over the last year.

Whereas smaller businesses tend to be the victim of generic attacks, larger companies face more sophisticated, tailored assaults. Indeed the costs are such that insurers are becoming more reluctant to provide cover against ransomware.

You can see more, including tips to protect your business in the full graphic below.

Photo Credit: Carlos Amarillo/Shutterstock