Majority of American Business Owners Unlikely to Pay Off Cybercriminals in Ransomware Attack
Business owners in the U.S. recognize the severity of ransomware and the potential disruption to business operations, yet 84 percent say they would not pay in the event of an attack, according to a new survey by IDT911. Of these business owners, some routinely back-up their business files and could therefore restore processes, whereas others simply wouldn't pay cybercriminals—even if it meant not recovering information.
Industry pundits have predicted 2016 to be the year of ransomware, following a dramatic uptick last year of cybercriminals holding businesses' digital systems hostage in exchange for money. The FBI's Internet Crime Compliant Center reports a total of 2,453 ransomware complaints were received in 2015, costing victims more than $24 million dollars. And since January 1, Symantec Security Response has seen an average of 4,000 ransomware attacks per day—a 300-percent increase from last year.