With the spread of the Internet, the number of cyber attacks has increased significantly. However, with the increase of ransomware known as ransomware, the costs of damages have increased significantly in recent years. So much so that many municipalities and large firms had to sacrifice half a million dollars in fees to save their information. Now, the 2020 balance sheet for ransomware viruses has emerged.
In 2019, 205,280 institutions were affected by ransomware.
Ransom viruses surprised by 2020 balance sheet
Over the years, the costs of ransomware viruses have also increased. Especially with the widespread use of Bitcoin, many attackers choose to resort to this method because the deposits cannot be traced. In 2020, since the spread of COVID-19 around the world, the frequency of cyberattacks has also increased and reached an unprecedented level.
The ransom attacks, which increased by 41 percent in 2019, hit hundreds of thousands of large-scale organizations and caused costs reaching millions of dollars. In 2020, these attacks have increased by 25 percent since the first months of the epidemic. Ransom viruses are currently attacking every 11 seconds. If the attacks continue in this way, by the end of 2020, the total cost is predicted to be $ 20 billion.
According to a report shared by Coalition, one of the largest cyber insurance providers in the US, 41 percent of the payment requests received by the company in the first six months of 2020 are related to ransomware. The company stated that among policyholders, the number of those exposed to ransom attacks increased 260 percent and the average amount of ransom demands increased by 47 percent.
While the sectors most affected by ransomware are manufacturing, education and healthcare, almost no sector has been affected by these attacks. Apart from ransomware, money transfer fraud and email security breaches by corporate companies also increased by 35 percent and 67 percent, respectively.
In addition to all this, Coalition found that companies using Microsoft Office 365 are three times more likely to encounter an email security breach incident than companies using alternatives such as G Suite or WPS Office.