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50 % were unable to make new hires due to paying a ransom .
The local survey also uncovered the severe toll cybercrime places on people ’ s well-being : 54 % of respondents said they experienced a decline in their overall health , while 26 % left the role they were in altogether . Troublingly , it ’ s not just security and IT staff that are affected . A large number ( 71 %) of respondents believe that ransomware attacks critically disrupted most departments in the company . The marketing team is seen as bearing the largest brunt , with 82 % while other business units not usually associated with dealing with the aftermath such as operations ( 73 %), production / R & D ( 73 %) and HR ( 70 %), were also adversely influenced .
The undesirable consequences people are experiencing may be partly attributed to the effect ransomware attacks can have on their careers and livelihoods . According to the survey , 20 % of businesses considered dissolving within a year of an attack , 32 % reported that their staff worked longer hours and 42 % of respondents said they experienced greater than normal customer losses .
Given the significant financial damage caused by ransomware , it ’ s clear why some businesses don ’ t make it . As well as the cost of the ransom itself – if paid – companies lost an average of 35 % of their annual turnover in the three months following an attack and 39 % lost over 40 %. A total of 28 % experienced a revenue-hitting drop in productivity .
The findings highlight the urgent need for businesses to build up cyberresilience . Fortunately , companies are taking steps to tackle the ransomware threat head-on . Some ( 43 %) of those surveyed implemented a backup and recovery strategy after experiencing an attack and 37 % optimised their backup and recovery strategy , showing how backup is increasingly viewed as the best line of defence . u www . intelligentciso . com
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