Linked: Ransomware recovery costs dwarf actual ransoms
Ransomware is costly, and it turns out paying the ransom might be the very least of it:
“Check Point’s team analysed data held by cyber quantification specialist Kovrr in its incident database, and the contents of the recent Conti leaks, and concluded that the paid ransom – if a payment is even made – is dwarved by costs such as incident response, reputation management services, system and data restoration, legal fees and new security technology.”
The Check Point folks, naturally go on to point out how investing in security tools and education to prevent ransomware in the first place is the less expensive option, and even though they clearly have a vested interest here, it’s hard not to agree with the basic premise.
It’s far better to have a plan ahead of time. Trying to wing it after an attack is going to be expensive.