A new report reveals that a majority of organizations believe that a ransomware attack is moderately to extremely likely to occur within the next 12 months.

The Cybersecurity Insiders 2023 Ransomware Report, recently published by BullWall and researchers with Cybersecurity Insiders, surveyed 435 cybersecurity professionals and identifies gaps, misunderstandings and obstacles in organizational security posture, attack prevention and ransomware remediation.

Other report highlights

  • 77 percent of respondents believe their endpoint security solution (EDR) can sufficiently protect their servers against malware attacks.
  • While 76 percent of respondents were highly confident in the organization’s ability to prevent an attack, only 35 percent were confident in the organization’s current ability to remediate ransomware after it locks or encrypts data within their systems.
  • 35 percent of respondents believe they can recover from an attack in a few days, despite research showing that recovery averages weeks or even months.
  • 79 percent of respondents said a threat is moderately to extremely likely to happen to their organization within the next year.
  • 69 percent report financial information is at risk, 61 percent report that customer information is at risk and 56 percent say employee information is at risk.
  • When it comes to negative impacts from ransomware, 82 percent cite downtime, 75 percent cite financial losses and 68 percent cite reputational damage.
  • 47 percent cite the evolving sophistication of attacks and 45 percent cite budget constraints as the main obstacles in enhancing defense strategies.