Canadian firms pay for ransomed data

Learn more about Canadian organizations who have paid attackers over the past year to regain access to computer files and IT systems infected with ransomware.

This report from Malwarebytes is part of an international study conducted on behalf of a Silicon Valley company that fights ransomware, which typically locks legitimate users out of a system and sends a message requiring payment to get a software code or key.

Key (Canadian) findings:

  • Dozens of Canadian organizations were forced to pay attackers over the past year to regain access to computer files and IT systems infected with ransomware.
  • 44 of the 124 Canadian respondents reported having a ransomware attack on their organization in the previous 12 months.
  • A majority of the victims said they’d paid ransoms ranging from $1,000 to $50,000.
  • 11 of the 44 organizations targeted by ransomware had to shut down their business for a period of time to deal with the attack and devote an average of nine person-hours to recover.
  • Five of the victim respondents, all identified as working in the health-care industry, said they believed lives were at risk. Health care is one of the most targeted industries among those affected by ransomware.
  • The decision to pay, especially in Canada, is directly linked to the risk of businesses getting shut down and lives being lost as a result of a ransomware attack.

Highlights

Update your knowledge and strengthen your network at this must-attend conference covering the most important issues and trends affecting audit committee members.

It’s probable that someone you know is deep in debt. If you are observant, you might see one of these seven signs.