Ransomware attacks: Weighing the cost of paying up

Victims choosing to pay have incurred lower average breach costs than those who do not

Still, attacks continue to occur, and the question of whether to pay ransomware hackers or not remains hotly debated. PHOTO: PEXELS
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To pay or not to pay? For companies unfortunate enough to be hit by a ransomware attack, that is the crucial question.

Ransomware attacks – where cyber criminals lock up a victim’s data or computer system and release it only if a ransom is paid – exploded in 2020 and 2021, in part because a shift to remote working during the pandemic left organisations more vulnerable to hacking.

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