Coveware, which provides response services to ransomware attacks, has released a report for the fourth quarter of 2020.
The 4 most interesting data from the report
1. The average ransom payment stands at $ 154,108
It is a decrease of 34% from the third quarter.
2. Organisations decline to pay
The significant decrease in the average payment is due to the fact that more and more organizations are deciding not to pay the ransom.
3. 70% of ransomware attacks also include theft of information from the victim and double extortion
It is an increase of 43% from the third quarter.
4. Social Engineering is the main attack type
In the current quarter the main attack channel was social engineering attacks.
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( Source: Coverware Ransomeware Report)
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Why SMEs Can No Longer Afford to Ignore Cyber Risk
🚨 SMEs – Cybercrime Is More Dangerous Than Ever 🚨
Small businesses are under attack – and it’s not just a matter of when, but how.
Advanced cyberattacks like ransomware, phishing, and data breaches are on the rise, and SMEs are often the easiest targets for hackers. With outdated security measures and a lack of resources, small businesses are becoming prime victims of cybercriminals. The consequences? Financial loss, reputational damage, and legal headaches.
Protecting your business from cyber risk isn’t optional – it’s essential. Here’s how you can defend against the growing threat:
Invest in robust cybersecurity tools
Train your employees on best practices
Keep software updated
Regularly back up critical data
Cyber risk is real – and it’s time to take action before it’s too late.
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