Gartner reports that by 2025, 75% of IT organizations will face one or more attacks. And every time a cybercriminal succeeds, the organization is damaged—financially and often reputationally. By 2031, ransomware is expected to attack a business, customer, or device every two seconds, costing victims around $265 billion annually, according to Cybersecurity Ventures. No industry is immune. Despite concerted efforts to thwart ransomware attacks, businesses can’t let their guard down—and here’s why. Cybercriminals are innovative. They continue to create new attack vectors. And their attacks are becoming more frequent, more sophisticated, and more targeted. But though the contours of each attack may be unique, attackers all have the same goal: to disrupt business operations so victims will pay to restore order.
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