While every sector is taking strides to improve their security stances against ransomware and other cyberattacks, the latest data shows that for Manufacturing the impacts are huge and the pain is real.
It’s not often we get some insight into how a specific industry vertical is handling cyberattacks. So, this latest report from Sophos’ – The State of Ransomware in Manufacturing and Production 2022 – provides a view into how ransomware attacks are impacting this industry.
According to the report, just over half (55%) of all organizations in the manufacturing and production sector were hit by ransomware in the last 12 months – a 52% jump from the previous year. Of those experiencing an attack:
- 33% paid the ransom
- 58% restored from backups
- Only 59% of the data was restored after paying the ransom
- An average ransom of a little over $2 million was paid
The report goes onto to spell out just how impactful these ransomware attacks were:
- 77% of manufacturing organizations experienced some impact on their production
- The average cost to remediate an attack was $1.23 million
- 67% of organizations were able to recover within a week, with 10% taking between 1-6 months to do so
It’s evident that manufacturing is a successful target for cybercriminal gangs, making it necessary for these organizations to ensure the highest levels of cyber defenses – which should include Security Awareness Training to address the material use of phishing as the primary initial attack vector in ransomware attacks.