A new International Data Corporation (IDC) survey has found that more than one third of organizations worldwide have experienced a ransomware attack or breach that blocked access to systems or data in the previous 12 months. And for those that fell victim to ransomware, it is not uncommon to have experienced multiple ransomware events.
Key findings from the survey include:
- Only 13 percent of organizations reported experiencing a ransomware attack/breach and not paying a ransom.
- While the average ransom payment was almost a quarter million dollars, a few large ransom payments (more than $1 million) skewed the average.
- The incident rate was notably lower for companies based in the United States (7 percent) compared to the worldwide rate (37 percent).
- The manufacturing and finance industries reported the highest ransomware incident rates while the transportation, communication, and utilities/media industries reported the lowest rates.
Greater awareness of ransomware incidents has prompted organizations to undertake a variety of actions in response. These include reviewing and certifying security and data protection/recovery practices with partners and suppliers; periodically stress-testing cyber response procedures; and increased sharing of threat intelligence with other organizations and/or government agencies. Greater incident awareness has similarly prompted requests from boards of directors to review security practices and ransomware response procedures.
Analysis of the survey results also showed that organizations that are further along in their digital transformation (DX) efforts were less likely to have experienced a ransomware event. These are organizations that have committed to a long-term DX investment plan with a multi-year approach tied to enterprise strategy.
The report, IDC's 2021 Ransomware Study: Where You Are Matters! (IDC #US US48093721), presents findings from the Future Enterprise Resiliency & Spending Survey of nearly 800 IT decision makers and influencers.