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REDWOOD CITY, Calif. and WASHINGTON, Oct. 19, 2021 /PRNewswire/ — ThycoticCentrify, a number one supplier of cloud identification safety options fashioned by the merger of privileged entry administration (PAM) leaders Thycotic and Centrify, right this moment launched new analysis confirming that ransomware has change into a most popular methodology for cyberattacks, with practically two out of three firms (64%) surveyed admitting to be victims of a ransomware assault within the final 12 months.
The report, titled “2021 State of Ransomware Survey & Report: Stopping and Mitigating the Skyrocketing Prices and Impacts of Ransomware Assaults,” relies on survey responses from 300 U.S. primarily based IT enterprise determination makers. It additional reveals that greater than 4 out of 5 (83%) ransomware assault victims felt they’d no alternative however to pay ransom calls for to revive their knowledge.
The report highlights how organizations are responding to the rising threats from ransomware assaults, together with:72% have seen cybersecurity budgets enhance as a result of ransomware threats93% are allocating particular funds to struggle ransomware threats50% mentioned they skilled lack of income and reputational harm from an attack42% indicated they’d misplaced clients on account of an assault
“Our analysis exhibits ransomware is a menace to organizations of all sizes and ranges of sophistication,” mentioned Artwork Gilliland, CEO at ThycoticCentrify. “The primary line of protection needs to be options that safe privileged entry, together with multi-factor authentication (MFA) and different strategies of implementing Zero Belief, to maintain would-be cyber criminals contained and restrict the harm they’ll inflict.”
The report options three major takeaways with suggestions and sources to assist mitigate harm from an assault.With so many organizations victimized by ransomware assaults, it’s extra essential than ever that organizations prioritize creating an incident response plan to keep away from being added to the rising record which have paid the ransom demand.Whereas growing cybersecurity budgets for community and cloud safety options, organizations should additionally perceive and prioritize the necessities for stopping exploit escalation with PAM safety that enforces least privileged entry.Stopping ransomware assaults by working towards primary cybersecurity hygiene resembling common backups, well timed patching, MFA, and password safety is crucial. Nonetheless, PAM insurance policies that make least privileged entry a precedence allow safety groups to establish the assault entry level, perceive what occurred, assist remediate, and in the end defend restored knowledge.
A complimentary copy of the complete 14-page report will be downloaded at https://thycotic.com/sources/ransomware-survey-and-report-2021/.
Comply with ThycoticCentrify on Twitter and LinkedIn to be taught extra.
Concerning the 2021 State of Ransomware Survey & ReportThe report relies on responses from 300 IT Enterprise Determination Makers within the U.S. to a survey carried out in July 2021 by Censuswide, a worldwide analysis firm.
About ThycoticCentrifyThycoticCentrify is a number one cloud identification safety vendor, enabling digital transformation at scale. ThycoticCentrify’s industry-leading privileged entry administration (PAM) options cut back danger, complexity, and price whereas securing organizations’ knowledge, units, and code throughout cloud, on-premises, and hybrid environments. ThycoticCentrify is trusted by over 14,000 main organizations across the globe together with over half of the Fortune 100, and clients embrace the world’s largest monetary establishments, intelligence companies, and significant infrastructure firms.
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