If there’s one threat that keeps the average information technology (IT) security leader awake at night, it’s the threat of ransomware, which continues to plague businesses across the globe. One recent report predicts that by 2031, ransomware will cost the economy around $265 billion each year, with a new attack happening every two seconds.
Even after a ransom has been paid, it’s unlikely a company’s data will be retrieved in its entirety. One industry study noted that only 8% of ransomware victims were able to recover all of their data after paying a ransom, while nearly a third reported that they were unable to recover more than half of their data.