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Revealed: The Economics of Ransomware

Revealed: The Economics of Ransomware (Malware and Vulnerabilities)

Ransomware was one of the leading cybersecurity threats in 2016 with the FBI estimating cybercriminals, in the first three months of this year, making a reported $209 million. IBM X-Force surveyed 600 business leaders and more than 1,000 consumers in the U.S. to determine the value placed on different types of data. 70 percent of businesses infected with ransomware have paid ransom to regain access to business data and systems. In comparison, over 50 percent of consumers surveyed said they would not pay to regain access back to personal data or devices aside from financial data, according to IBM Security. With the financial returns on ransomware growing north of a $1 billion for cybercriminals, IBM anticipates it and other extortion schemes will continue to grow.

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