cyber
TRENDS
A closer look at payment motivations provides further insight . The research found that threequarters of business leaders ( 74 %) cite external risks as the reason for paying a cyber ransom , including to minimise potential harm to stakeholders , reduce brand damage and to avoid sensitive information being leaked .
Darren Hopkins , Cyber Partner at McGrathNicol Advisory , said : “ Businesses are still overwhelmingly paying ransoms and paying them quickly to avoid negative backlash from customers , partners and stakeholders . It ’ s now being factored in as a cost of doing business .
“ The research shows that executives are becoming empathetic and less hard-nosed about reporting these attacks to authorities . But without greater collaboration and knowledge-sharing , our ability
Businesses are still overwhelmingly paying ransoms and paying them quickly to avoid negative backlash from customers , partners and stakeholders .
to prevent ransomware attacks is undermined . This intelligence can help business leaders make informed decisions rather than rushing into paying an expensive , and potentially illegal , ransom .”
WWW . INTELLIGENTCISO . COM 21