{"id":6019,"date":"2021-06-18T17:13:24","date_gmt":"2021-06-18T11:43:24","guid":{"rendered":"https:\/\/www.kratikal.com\/blog\/?p=6019"},"modified":"2024-08-14T12:11:04","modified_gmt":"2024-08-14T06:41:04","slug":"ransomware-cost","status":"publish","type":"post","link":"https:\/\/threatcop.com\/blog\/ransomware-cost\/","title":{"rendered":"Ransomware Cost to Grow Exponentially to Reach $265 Billion by 2031"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #000000;\">The footprint of ransomware has been growing globally in terms of both impact and payouts for attackers. However, it has also evolved into many dangerous forms nowadays as threat actors are stealing sensitive info through ransomware attacks and threatening to sell it on the dark web.<\/span><\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 ez-toc-wrap-center counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #414141;color:#414141\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #414141;color:#414141\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/threatcop.com\/blog\/ransomware-cost\/#What_will_be_the_Cost_of_Ransomware_by_2031\" >What will be the Cost of Ransomware by 2031<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/threatcop.com\/blog\/ransomware-cost\/#RaaS_Ransomware-as-a-Service\" >RaaS (Ransomware-as-a-Service)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/threatcop.com\/blog\/ransomware-cost\/#Book_a_Free_Demo_Call_with_Our_People_Security_Expert\" >Book a Free Demo Call with Our People Security Expert<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/threatcop.com\/blog\/ransomware-cost\/#Enter_your_details\" >Enter your details<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/threatcop.com\/blog\/ransomware-cost\/#Recent_Incidents_of_Ransomware_Attacks\" >Recent Incidents of Ransomware Attacks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/threatcop.com\/blog\/ransomware-cost\/#Just_Help_Yourself_and_Dont_Let_it_Happen_in_the_First_Place\" >Just Help Yourself and Don\u2019t Let it Happen in the First Place<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/threatcop.com\/blog\/ransomware-cost\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #000000;\">This means that the avenues of extorting big money from victims have also increased for malicious actors. So, now there are multiple ways for a ransomware victim to suffer the damages of an attack. With this, the chances of payout for malicious actors have also grown.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"What_will_be_the_Cost_of_Ransomware_by_2031\"><\/span><span style=\"color: #000000;\"><b>What will be the Cost of Ransomware by 2031<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>$265 billion!<\/b><span style=\"font-weight: 400;\"> You heard it right. $265 billion would be the cost of ransomware by the end of<\/span><b> 2031<\/b><span style=\"font-weight: 400;\">. <\/span><span style=\"color: #183994;\"><a style=\"color: #183994;\" href=\"https:\/\/www.zdnet.com\/article\/the-cost-of-ransomware-around-the-globe-to-go-beyond-265-billion-in-the-next-decade\/?&amp;web_view=true\" target=\"_blank\" rel=\"noopener\"><b>ZDNet<\/b><\/a><\/span><span style=\"font-weight: 400;\"> has published this prediction made by <\/span><b>Cybersecurity Ventures<\/b><span style=\"font-weight: 400;\">. This estimate includes the cost of disruption of business during and post-attack, harm to the reputation of the organization, and the cost of employee training following such an attack.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">The same article mentions that the average ransomware payouts have increased from <\/span><b>$115,123 to $312,493 by over 171% from 2019 to 2020<\/b><span style=\"font-weight: 400;\"> alone.<\/span><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-9646\" src=\"https:\/\/threatcop.com\/blog\/wp-content\/uploads\/2021\/06\/giphy-1.gif\" alt=\"\" width=\"300\" height=\"225\" \/><\/p>\n<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #000000;\">&#8220;Despite authorities&#8217; recent success in busting several ransomware gangs, this particular breed of malware has proven to be a hydra &#8211; cut off one head and several appear in its place &#8212; and all signs are that the coming decade will be no less problematic,&#8221; Cybersecurity Ventures noted.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #000000;\">As ransomware attacks have become more incentivized than ever, the modes of launching ransomware attacks have increased in number too. Now newbie threat actors are using services like RaaS and easily available cheap ransomware toolkits on the dark web.<\/span><\/p>\n\n<style type=\"text\/css\">\n      @media print, screen and (max-width: 63.99875em){\n      .tnp-submit\n      width: 48%;\n      }\n      .wp-block-tnp-minimal{\n      padding: 20px;\n      }\n      .blog_para\n      margin-top: 4px !important;\n      line-height: 25px !important;\n      font-size: 15px !important;\n      }\n\n      }\n      .blog_para{\n      font-family: jost,sans-serif;\n      margin-top: 14px;\n      margin-bottom: 30px;\n      color: #fff;\n      font-size: 15px !important;\n      color: black !important;\n\n      }\n\n      .wp-block-tnp-minimal{\n      padding:20px;\n      border: 1px solid grey;\n      }\n\n      .tnp-submit a{\n        background: #1d58c7!important;\n    border-radius: 5px!important;\n    text-transform: inherit!important;\n    padding: 8px 25px!important;\n    font-weight: 600!important;\n    color: #fff!important;\n    width: 30%!important;\n    border: none;\n      }\n\n      .blog_get{\n      font-size: 24px !important;\n      font-weight: 700;\n      padding-bottom: 0px;\n    font-family: 'Poppins' !important;\n      margin-bottom: 0px;\n      margin-top: 0px;\n      margin-bottom: 0px !important;\n      color: white;\n          line-height: 30px;\n          color: white;\n      }\n      .row{\n             display: flex;\n    flex-wrap: wrap;\n    flex-direction: row;\n    padding: 25px 0px 25px 36px;\n    align-items: center;\n\n      }\n\n.colLeft{\n         flex-basis:50%;\n    -webkit-box-flex: 0;\n    flex-grow: 0;\n    max-width: 50%;\n    color: white;\n}\n    \n .colRight{\n       flex-basis: 45%;\n    -webkit-box-flex: 0;\n    flex-grow: 0;\n    max-width: 50%;\n }\n\n.tnp-subscription-minimal{\n    float: right;\n}\n<\/style>\n<div style=\"max-width: 741px; margin: 0 auto; background-image: url('https:\/\/awareness.threatcop.ai\/marketing\/linkedinlowerbanner.webp'); background-repeat: no-repeat; background-size: cover; background-position: center; \">\n<div class=\"row\">\n<div class=\"colLeft\">\n<p class=\"blog_get\" style=\"font-family: 'Poppins' !important; color: white !important\">Subscribe to Our Newsletter On Linkedin<\/p>\n<p class=\"blog_para\" style=\"font-size: 16px;font-family: 'Poppins' !important; color: white !important; margin-top: 10px; margin-bottom: 28px;line-height: 25px;\">Sign up to Stay Tuned with the Latest Cyber Security News and Updates<\/p>\n\n<div>\n<div class=\"tnp\" style=\"margin-bottom: 10px;\">\n            <form action=\"https:\/\/threatcop.com\/newsletter-thank-you\" method=\"get\" target=\"_blank\">\n<div class=\"tnp-submit\">\n                  <a class=\"libutton\" href=\"https:\/\/www.linkedin.com\/build-relation\/newsletter-follow?entityUrn=7062043746430783488\" target=\"_blank\" rel=\"noopener\">Subscribe<\/a><\/div>\n<\/form><\/div>\n<\/div>\n<\/div>\n<div class=\"colRight\">\n<div>\n<div class=\"tnp tnp-subscription-minimal \">\n            <img decoding=\"async\" src=\"https:\/\/awareness.threatcop.ai\/marketing\/newsletter-icon.webp\" class=\"img-fluid\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"RaaS_Ransomware-as-a-Service\"><\/span><span style=\"color: #000000;\"><b>RaaS (Ransomware-as-a-Service)<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Like other cloud service providers, <\/span><b>RaaS (<span style=\"color: #183994;\"><a style=\"color: #183994;\" href=\"https:\/\/threatcop.com\/blog\/ransomware-as-a-service\/\">Ransomware-as-a-Service<\/a><\/span>)<\/b><span style=\"font-weight: 400;\"> is based on a software subscription model. The worrying fact is that it has now become a go-to tool for beginner threat actors. This is because the ease with which this service can be availed will allow rookie malicious actors to launch ransomware attacks easily and frequently.&nbsp;<\/span><\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400; color: #000000;\">The RaaS model works like any other legitimate service. The affiliates who offer their services are given identifier codes for the distribution of commissions. Moreover, the service providers are mostly professional programmers who are looking to earn some extra money.<\/span><\/p>\n\n\n\n<!DOCTYPE html>\n<html lang=\"en\">\n\n<head>\n    <meta charset=\"UTF-8\">\n    <meta http-equiv=\"X-UA-Compatible\" content=\"IE=edge\">\n    <meta name=\"viewport\" content=\"width=device-width, initial-scale=1.0\">\n    <title>Document<\/title>\n<\/head>\n\n<style>\n    .interestedBtn {\n        width: 80% !important;\n        box-sizing: border-box !important;\n        display: inline-block !important;\n        padding: 11px !important;\n        border: 1px !important;\n        border-color: #ddd !important;\n        margin-top: 10px !important;\n        background-color: #183e8b !important;\n        background-image: none !important;\n        text-shadow: none !important;\n        color: #fff !important;\n        font-size: 14px !important;\n        line-height: 20px !important;\n        border-radius: 5px !important;\n        margin: 0 !important;\n        cursor: pointer !important;\n        box-shadow: 0px 4.66px 22.99px 0px rgba(0, 0, 0, 0.10);;\n    }\n\n\n        .formSec .formSecTwo{\n            padding-top: 15px !important;\n            margin-bottom: 30px !important;\n        }\n\n\n    .tnp-email {\n        width: 80% !important;\n        box-sizing: border-box;\n        padding: 8px 10px;\n        display: inline-block;\n        border: 1px solid #ced4da;\n        background: #fff;\n        color: #000 !important;\n        font-size: 13px;\n        line-height: 20px;\n        border-radius: 2px;\n        padding-right: 30px;\n        margin-bottom: 0px;\n    }\n\n    .formSec {\n        border: 1px solid #ced4da;\n        float: left !important;\n        width: 55% !important;\n    }\n\n    .mainBox {\n       \/* border: 1px solid #183e8b;*\/\n         background: white;\n        max-width: 600px !important;\n        margin: 0 auto !important;\n        padding: 20px !important;\n        font-family: Arial, Helvetica, sans-serif !important;\n    }\n\n    .boxDiv {\n        display: flex !important;\n    }\n\n    .boxConsult {\n        float: left !important;\n        width: 45% !important;\n        padding: 10px !important;\n    }\n\n    .formSecTwo {\n        text-align:center !important;\n        width: 100% !important;\n    }\n\n    .formHeading {\n        font-family: Arial, Helvetica, sans-serif;\n        margin-top: 0px;\n        font-weight: 700;\n        line-height: 25px;\n        font-size: 18px !important;\n        \n       margin-bottom: 60px !important;\n       color: #000!important;\n          margin-top: 5px !important;\n    }\n\n    .fieldHeading {\n        margin: 0 !important;\n        font-size: 13px !important;\n        text-align: left !important;\n        margin: 0px 39px 2px 93px !important;\n        font-weight: 500 !important;\n    }\n\n    .image {\n        max-width:90% !important;\n        height: auto !important;\n    }\n\n     .email-icon {\n            position: absolute;\n            right: 50px;\n             top: 20px;\n            transform: translateY(-50%);\n            pointer-events: none; \n        }\n\n          .email-container{\n             position: relative;\n         \n        }\n       \n\n        .email-icon img{\n                 width: 15px;\n        }\n\n\n         input::placeholder {\n            color:#495057;\n        }\n\n\n     ::placeholder {\n        color: #495057;\n    }\n\n        ::-ms-input-placeholder { \n          color:#495057;\n        }\n\n\n        input:-webkit-autofill {\n            background-color: transparent !important;\n            -webkit-box-shadow: 0 0 0px 1000px white inset !important; \n            box-shadow: 0 0 0px 1000px white inset !important;\n            color: #495057 !important; \n        }\n\n        \n        input {\n            color:#495057 !important;\n        }\n\n\n    @media screen and (max-width: 480px) {\n        .boxDiv {\n            display: block !important;\n            padding: 15px !important;\n         \n        }\n\n        .image{\n        width: 80% !important;\n         margin-bottom: 14px;\n        }\n        .fieldHeading {\n            text-align: left !important;\n            margin: unset !important;\n        }\n\n        .boxConsult {\n            width: unset !important;\n            float: none !important;\n        }\n\n        .mainBox {\n            border: unset !important;\n        }\n\n        .formSec {\n            float: unset !important;\n            width: 100% !important;\n        }\n\n        .formSecTwo {\n            text-align: center !important;\n        }\n\n        .tnp-email {\n            width: 90% !important;\n        }\n\n        .formHeading {\n            margin-bottom: unset !important;\n        }\n\n         .email-icon {\n            position: absolute;\n            right: 25px;\n            top: 58%;\n            transform: translateY(-50%);\n            pointer-events: none; \/* Make sure the icon doesn't block clicking on the input *\/\n        }\n       \n        .email-container{\n             position: relative;\n        }\n\n    }\n<\/style>\n\n<body>\n\n    <div class=\"mainBox\" box-sizing:=\"\" border-box;=\"\">\n\n        <div class=\"boxDiv\">\n\n            <div class=\"boxConsult\">\n                <div>\n                    <h3 class=\"formHeading\" style=\" font-size: 16px !important;\"><span class=\"ez-toc-section\" id=\"Book_a_Free_Demo_Call_with_Our_People_Security_Expert\"><\/span>\n                        Book a Free Demo Call with Our People Security Expert<span class=\"ez-toc-section-end\"><\/span><\/h3>\n                <\/div>\n                <img decoding=\"async\" src=\"https:\/\/awareness.threatcop.ai\/threatcop_blog\/form.svg\" class=\"image\">\n            <\/div>\n\n            <div class=\"formSec\">\n                <div class=\" formSecTwo\">\n                    <h4 style=\"margin-top: 0; font-size: 16px !important;\"><span class=\"ez-toc-section\" id=\"Enter_your_details\"><\/span>Enter your details<span class=\"ez-toc-section-end\"><\/span><\/h4>\n                    <div class=\"tnp tnp-subscription-minimal\">\n                        <form action=\"https:\/\/threatcop.com\/thankyou-blog\" method=\"get\" target=\"_blank\">\n                            <div class=\"email-container\" style=\"margin-bottom:20px;\">\n\n                                <input class=\"tnp-email\" type=\"text\" required=\"\" name=\"FullName\" value=\"\"\n                                    placeholder=\"Full Name\">\n                                    <span class=\"email-icon\"><img decoding=\"async\" src=\"https:\/\/awareness.threatcop.ai\/threatcop_blog\/icon01.svg\" class=\"img-fluid\" \/><\/span>\n                            <\/div>\n\n                            <div class=\"email-container\" style=\"margin-bottom:20px;\">\n                               \n                                <input class=\"tnp-email\" type=\"email\" required=\"\" name=\"email\" value=\"\"\n                                    placeholder=\"Corporate Email Id\">\n                                     <span class=\"email-icon\"><img decoding=\"async\" src=\"https:\/\/awareness.threatcop.ai\/threatcop_blog\/icon02.svg\" class=\"img-fluid\" \/><\/span>\n                            <\/div>\n\n                            <div class=\"email-container\" style=\"margin-bottom:20px;\">\n                               \n                                <input class=\"tnp-email\" type=\"text\" required=\"\" name=\"CompanyName\" value=\"\"\n                                    placeholder=\"Company Name\">\n                                    <span class=\"email-icon\"><img decoding=\"async\" src=\"https:\/\/awareness.threatcop.ai\/threatcop_blog\/icon03.svg\" class=\"img-fluid\" \/><\/span>\n\n                            <\/div>\n\n                            <div class=\"email-container\">\n                               \n                                <input class=\"tnp-email\" type=\"number\" required=\"\" name=\"Phone\" value=\"\"\n                                    placeholder=\"Phone No.\"><br>\n                                    <span class=\"email-icon\"><img decoding=\"async\" src=\"https:\/\/awareness.threatcop.ai\/threatcop_blog\/icon04.svg\" class=\"img-fluid\" \/><\/span>\n                            <\/div>\n                            <input type=\"hidden\" name=\"BlogForm\" value=\"BlogForm\"><br>\n                            <input class=\"tnp-submit interestedBtn\" name=\"submit\" type=\"submit\"\n                                value=\"SUBMIT\">\n\n                        <\/form>\n                    <\/div>\n                <\/div>\n            <\/div>\n\n        <\/div>\n    <\/div>\n\n<\/body>\n\n<\/html>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Incidents_of_Ransomware_Attacks\"><\/span><span style=\"color: #000000;\"><b>Recent Incidents of Ransomware Attacks<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">We haven\u2019t got past even half of this year and ransomware attacks have clogged the cyber landscape. Some of the most devastating ransomware attacks from 2021 are mentioned below:<\/span><b><\/b><\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"color: #000000;\"><b>Colonial Pipeline: <\/b><span style=\"font-weight: 400;\">The <\/span><span style=\"color: #183994;\"><a style=\"color: #183994;\" href=\"https:\/\/www.wsj.com\/articles\/colonial-pipeline-ceo-tells-why-he-paid-hackers-a-4-4-million-ransom-11621435636#:~:text=Joseph%20Blount%2C%20CEO%20of%20Colonial,to%20bring%20the%20pipeline%20back.\" target=\"_blank\" rel=\"noopener\"><strong>ransomware attack on Colonial Pipeline<\/strong><\/a><\/span><span style=\"font-weight: 400;\"> bit the biggest chunk of the news in 2021. This was majorly due to the extent of damage that resulted from it. The attack caused a major disruption to fuel supply in many parts of the US. <strong>Colonial Pipeline ended up paying <\/strong><\/span><strong>$4.4 Million in bitcoins to the attackers.<\/strong><\/span><\/li>\n\n\n\n<li><span style=\"color: #000000;\"><b>Acer: <\/b><span style=\"font-weight: 400;\">The computer manufacturer <\/span><span style=\"color: #183994;\"><a style=\"color: #183994;\" href=\"https:\/\/www.bleepingcomputer.com\/news\/security\/computer-giant-acer-hit-by-50-million-ransomware-attack\/\" target=\"_blank\" rel=\"noopener\"><b>Acer got attacked by ransomware<\/b><\/a><\/span><span style=\"font-weight: 400;\"> in the month of March 2021. The organization ended up paying <\/span><b>$50 million to the REvil hackers group<\/b><span style=\"font-weight: 400;\">, which is one of the largest known to date.<\/span><\/span><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"color: #000000;\"><b>AXA: <\/b><span style=\"font-weight: 400;\">In May 2021, the insurance company <\/span><span style=\"color: #183994;\"><a style=\"color: #183994;\" href=\"https:\/\/threatcop.medium.com\/ransomware-virus-axa-becomes-one-of-the-latest-victims-5e1eeb1b4e31\" target=\"_blank\" rel=\"noopener noreferrer\"><b>AXA was attacked by Avaddon group<\/b><\/a><\/span><span style=\"font-weight: 400;\">. This attack came after the insurance firm announced that they would stop covering many of their clients with reimbursements in case of ransomware attacks. However, this attack on the insurance firm brought out the irony of the whole matter.<\/span><\/span><\/li>\n\n\n\n<li><span style=\"color: #000000;\"><b>JBS Foods: <\/b><span style=\"font-weight: 400;\">Major Brazilian meat processing company JBS Foods has admitted to <\/span><span style=\"color: #183994;\"><a style=\"color: #183994;\" href=\"https:\/\/www.kratikal.com\/blog\/worlds-biggest-meat-producer-jbs-pays-11m-as-a-ransom\/\" target=\"_blank\" rel=\"noopener noreferrer\"><b>paying up $11 million in ransom<\/b><\/a><\/span><span style=\"font-weight: 400;\"> to attackers who brought down its plants. These plants produce meat products that roughly comprise one-fifth of the USA\u2019s meat production.<\/span><\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Just_Help_Yourself_and_Dont_Let_it_Happen_in_the_First_Place\"><\/span><span style=\"color: #000000;\"><b>Just Help Yourself and Don\u2019t Let it Happen in the First Place<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400; color: #000000;\">They say &#8211; \u201cPrevention is better than cure\u201d. But in the case of ransomware &#8211; \u201cPrevention is the only cure\u201d. This is true because after a ransomware attack takes place, it is very unlikely for an organization to resist paying up the ransom in exchange for compromised info and blocked access.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Enhancement of employee awareness through modern techniques can go a long way in preventing ransomware from gripping the organization. Security awareness tools like <\/span><span style=\"color: #183994;\"><strong><a style=\"color: #183994;\" href=\"https:\/\/threatcop.com\/threatcop-security-awareness-training\" target=\"_blank\" rel=\"noopener noreferrer\">T<\/a>SAT<\/strong><\/span><span style=\"font-weight: 400;\"> provide the organization with handy tools for launching simulation attacks and analyzing results from them. This helps in viewing the level of awareness of each individual employee in the organization and their collective awareness as a group.&nbsp;<\/span><\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400; color: #000000;\">Over and above this, Threatcop also comes with a huge library of awareness content to engage the participants and educate them. Using modern methods such as this one can be of great assistance in figuring out the vulnerabilities arising from employee negligence in the organization.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><span style=\"color: #000000;\"><b>Conclusion<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400; color: #000000;\">Ransomware will keep knocking on your door until you ward it off through better learning and improved technology. It is here and it\u2019s growing by leaps and bounds every day. The only way to stay secure is by being vigilant and acting proactively.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The footprint of ransomware has been growing globally in terms of both impact and payouts for attackers. However, it has also evolved into many dangerous forms nowadays as threat actors are stealing sensitive info through ransomware attacks and threatening to sell it on the dark web. This means that the avenues of extorting big money [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[],"class_list":["post-6019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ransomware"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ransomware Cost to Reach $265 Billion by 2031 | Threatcop<\/title>\n<meta name=\"description\" content=\"The footprint of ransomware has been growing globally in terms of both impact and payouts for attackers. 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