New data puts the spotlight on the frequency and impact of modern ransomware attacks, highlighting the overconfidence organizations are showing in their ability to defend and respond to attacks.
If you’re like one of the organizations surveyed in Halcyon’s latest Ransomware CISO Survey report, the findings were quite eye opening. According to the survey, CISOs truly believed they were ready:
- 88% were “somewhat or very confident their organizations could disrupt an attack before ransomware is delivered”
- 85% were “somewhat or very confident their organizations could quickly resume regular operations following a successful attack”
And yet, the data in the report tells a VERY different story:
- 22% of orgs experienced a ransomware attack 10 or more times in 12 months
- 23% were attacked five-nine times in the same timeframe
- 22% were attacks two-four times
- 17% were attacked just once
Here’s the kicker: the negative impact was huge:
- 21% of victim orgs experienced disruption for longer than six months
- 18% had disruptions from two-four months
- 24% for 2-4 weeks
- 59% said the total cost to remediate was over $1 million
Halcyon take an interesting twist on how to respond to this overconfidence. They suggest paying attention to specific metrics that help to measure mean time to detection, mean time to respond, incident response plan effectiveness, security awareness training and cybersecurity hygiene.
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