Due To The Frequent Ransomware Attacks, The Downtime Cost Rises Up To $160 Billions In the USA

New data shows that ransomware attacks in the USA are increasing day by day at an alarming rate, and the downtime cost has increased up to $160 billion in the USA. If we review this year so far, we find out that the hackers who are creating ransoms are seeing this as a legitimate business and increasing their revenues every year. So the report by Comparitech's Analysis of Ransomware Attacks in 2021, we all know that the future is looking kind of bright for these criminals.

The total cost of downtime in the USA is $159.7 billion to be exact. This is more than 12% of 2021 and that's a concerning thing. The duration of downtime reported is 22 days on average which is more than 2021, a 23% increase to be exact. The amounts for ransom range from $5, 500 to $40 million.

What we can get from all this study is that ransomware gangs are getting stronger and making victims get more downtime costs by making companies an easy way to encrypt their data. This results in a larger downtime cost. Companies are not focusing much on record-based data as the criminals can take hold of these records as a threat and ask for ransoms. They could threaten to publish all that data. This is possible for them because they use encryption and by ransomware gangs being encrypted, the victims of these crimes can easily take notice.

Ransomware criminals often choose specific industries and companies to make them their target. Data theft and encryption are something these criminals do the most to do ransomware attacks. Phishing has also increased in the last 3 years and it has become a primary attack technique for ransomware criminals. If the companies want to become safe from these attempts, they need to stop their users from interacting with any websites and emails that look a little malicious.

Security Awareness Training can help you in detecting any harmful entries into your system. You will also learn how to detect any attack on your company and how to tackle these problems. If these types of ransomware attacks aren't stopped soon, US companies will have to pay billions of dollars for the downtime costs.

Read next: KnowBe4 report highlights the frequently-clicked email scam content in the second quarter of 2022
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