UK Ransomware Ruckus: Brits Pay Up Big Time, But Recover Faster
British organizations are paying a higher ransom and encrypting more data in ransomware attacks compared to global peers, says Sophos. Despite this, they are recovering faster, with 59% back on track in under a week. Could this be the silver lining in the dark cloud of ransomware chaos?
Hot Take:
If paying ransoms were an Olympic event, British organizations would be taking home the gold! With a staggering 103% payout rate, UK firms are practically rolling out the red carpet for cybercriminals. But hey, at least they’re fast—like, “next-day delivery” fast—when it comes to bouncing back. If only they could apply that speed to securing their systems in the first place!
Key Points:
- 70% of UK ransomware victims had their data encrypted, far above the global average of 50%.
- UK organizations typically paid 103% of ransom demands, compared to the global average of 85%.
- The median UK ransom demand was $5.4 million in the past year.
- 99% of UK organizations retrieved their encrypted data, but data theft risks remain.
- The Cyber Security and Resilience Bill may soon ban ransom payments for certain UK organizations.
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