The Information Risk Insights Study: Ransomware

Ransomware ranks first in terms of financial impact

The estimated total losses amount to over 274 billion US dollars

Turning uncertainty into preparedness: A data-driven analysis of the impact of ransomware over the past five years

SAGINAW, MI, USA, August 27, 2024 /EINPresswire.com/ — We at Cyentia Institute are pleased to announce the release of our latest report in the Information Risk Insights Study (IRIS) series, focused on the evolving threat of ransomware. Sponsored by the Cybersecurity and Infrastructure Security Agency (CISA), this comprehensive analysis takes an in-depth look at the impact of ransomware over the past five years and provides detailed, accurate, and high-level key findings that provide critical insights to your audience.

Ransomware continues to cast a menacing shadow over the digital landscape, causing widespread fear and anxiety among organizations. With the devastating impact of these attacks in the headlines, it’s no wonder organizations are on high alert. Fear of becoming the next victim, coupled with uncertainty about the likelihood of an attack and doubts about the effectiveness of existing defenses, have created a challenging environment for decision-makers.

However, our latest edition of the Information Risk Insights Study (IRIS) aims to break through the chaos, not add to it. We are committed to transforming fear, uncertainty and doubt (FUD) into awareness, preparation and resilience. By providing a glimmer of clarity with our rigorous, data-driven analysis, we empower organizations to step out of the shadows of guesswork and into the light of informed, strategic decision-making.

This report uses a comprehensive dataset that includes over 14,000 documented ransomware incidents, affecting more than one billion records and resulting in an estimated $270 billion in financial losses over the past five years. We’re excited to share key insights from our comprehensive study on the next page, followed by an in-depth exploration of the data that will give you the knowledge to effectively counter the ransomware threat. Join us as we demystify the dynamics of ransomware and strengthen your defenses against this pervasive digital threat.

Key findings include:

– Ransomware was responsible for 32% of all security incidents and 38% of financial losses from cyber events reported over the last five years.

— In 2015, ransomware caused

– There is about a 10% chance that any organization will experience at least one ransomware incident in the next 12 months.

— Ransomware accounts for 51% of incidents in the manufacturing sector, compared to just 15% in financial services.

— Less than 10% of all incidents affecting companies valued at over $100 billion are due to ransomware. But

We address questions that resonate in the boardrooms of every organization. Through our detailed analysis, we illustrate not only the possibility, but also the varying scale and frequency of ransomware attacks across different sectors. By analyzing real-world data and trends, we provide a clear view of the threat landscape so organizations can assess their own risk levels and adjust their defense strategies accordingly.

These targeted insights help shift the focus from uncertainty to proactive preparation, ensuring that organizations are not just wondering if something could happen, but are prepared when it does.

In summary, our latest edition of the Information Risk Insights Study (IRIS) provides media organizations with an invaluable opportunity to lead the discussion on one of the most critical threats facing organizations today: ransomware. By covering our report, you will not only provide your audience with expert analysis and insightful data, but you will also guide them through the evolving landscape of cybersecurity threats and defenses. We invite you to request an embargoed copy of the report, which will equip you with the detailed insights you need to inform and educate your readers and help them effectively navigate and mitigate these pervasive digital threats. The Ransomware Information Risk Insight Study is an essential tool for understanding and preparing for the reality of ransomware in 2024, making it a must-have cover story for your media organization.

Wade Baker
Cyentia Institute
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