Cyber-crime is growing exponentially. According to Cybersecurity Ventures, the cost of cybercrime is predicted to hit $8 trillion in 2023 and will grow to $10.5 trillion by 2025.
In another report from IBM, “Cost of a Data Breach 2022”, revealed an average ransom payment of $812,360. The actual ransom payment, however, is only part of the total cost of a ransomware attack, which IBM pegs at $4.5 million on average. IBM also noted that it takes an average of 49 days longer than other types of attacks for an organization to identify and remediate ransomware breaches.
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