South African corporations are paying ransomware crooks: Sophos

A placing quantity of mid-sized corporations in South Africa which were hit by ransomware assaults are paying the attackers, regardless of inherent dangers in doing so, new analysis from safety agency Sophos has discovered.

Sophos, in its newly launched State of Ransomware 2022 report, found that 51% of South African organisations surveyed have been hit by ransomware in 2021 — although not all of them had information encrypted by the attackers. Almost half (49%) of people who had information encrypted paid the ransom to get their information again, even when that they had different means of information restoration, equivalent to backups, the survey outcomes present.

The report surveyed the impression of ransomware on 5 600 mid-sized organisations in 31 nations throughout Europe, the Americas, Asia-Pacific and Central Asia, the Middle East, and Africa.

“The survey shows that, globally, the proportion of victims paying the ransom continues to increase, even when they may have other options available,” mentioned Chester Wisniewski, principal analysis scientist at Sophos, in a press release on Monday. “There could possibly be a number of causes for this, together with incomplete backups or the need to stop stolen information from showing on a public leak web site.

“In the aftermath of a ransomware attack there is often intense pressure to get back up and running as soon as possible. Restoring encrypted data using backups can be a difficult and time-consuming process, so it can be tempting to think that paying a ransom for a decryption key is a faster option. But it’s also an option fraught with risk.”

According to Wisniewski, organisations usually don’t know what the attackers have accomplished, equivalent to including backdoors to their programs or copying passwords, which may put them susceptible to additional assaults.

Sophos’s State of Ransomware 2022 survey was carried out by Vanson Bourne, an impartial specialist in market analysis, in January and February 2022. All respondents have been from mid-sized organisations with between 100 and 5 000 staff.  – © 2022 InformationCentral Media

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