In a recent podcast interview with Hillarie McClure, Multimedia Director of Cybercrime Magazine, Robert E. Johnson III, Cimcor CEO/President, discusses the latest views on Ransomware in today’s cybersecurity climate. The podcast can be listened to in its entirety below.
The average ransomware payment is up about 171% over 2020. Back in 2019 actually, we were about $115,000 for average ransomware payment and in 2020, it jumped up to about $317,000, on average. The stakes are definitely higher. Just a few months ago, the largest ransomware payment in history was made by an insurance company. It was $40 million. And that’s the negotiated amount. The hackers actually want it 60 million and they were able to somehow negotiate it down to 40 million. So and to add insult to injury, you know just across the industry we’re spending more on cybersecurity-related software and tools than ever before, but yet the bad guys are still winning.