New Delhi, Sep 11 : Retail was the second industry to be targeted by ransomware in the last year of all industries, following entertainment, leisure, and media sectors, a study has found.Globally, 77 percent of retailers that were surveyed suffered by the adversity — an increase of 75 percent from 2020.
This is 11 percent more than the average cross-sector attack rate of 66 according to the security firm Sophos.Sophos.
In 2021 the average ransom payment was $226.044, a 53 percent increase contrasted with the year 2020 ($147,811).
“Retailers continue to be afflicted with one of the most frequent instances of ransomware-related attacks of any other industry.More than three in four victims of an attack in 2021, it definitely places ransomware attacks to the realm of when not if.” stated Chester Wisniewski, principal research scientist, Sophos.
The report found that only 28 percent of retail companies affected were able stop the encryption of their customer data.
“It’s likely that various threat groups are targeting different industries.Certain of the groups that are low-skilled demand between $50,000 and $200,000 in ransom money while the more sophisticated, higher-end attackers with greater visibility require one million dollars or more” explained Wisniewski.
In 2021, the total cost to retailers to recover from a ransomware breach was $1.27 million, a decrease from $1.97 million in 2020.
In comparison to 2020 when it was compared to 2020, the volume of data that was recovered following payment of the ransom dropped (from 67 percent to 62 percent) as did the proportion of retail companies that got all their data returned (from 9 percent to 5 percent).
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