Today’s pervasive cyberattacks are forcing the majority of companies to pay ransoms and break their ‘do not pay’ policies, with data recovery deficiencies compounding the problem, according to Cohesity.
In fact, most companies have paid a ransom in the last two years, and the vast majority expect the threat of cyberattacks to increase significantly in 2024 compared to 2023.
Companies brace for increased cyber threats
Alarmingly, 79% of respondents said their company had been the ‘victim of a ransomware attack’ between June and December. The cyber threat landscape is expected to get even worse in 2024, with 96% of respondents saying the threat of cyberattacks to their industry will increase this year and 71% predicting it will increase by more than 50%.
Organizations’ attack surfaces are informed by the size and scope of their data environments. However, 78% of respondents said their data security risk has now increased faster than the growth in the data they manage. Respondents also believe organizations’ cyber resilience and data security strategies are not keeping up with the current threat landscape, with just 21% having full confidence in their…
