How Many Ransomware Victims Actually Pay Up?

We’ve heard a lot about ransomware, a type of malware that holds a victim’s computer and all its files to ransom, but how many people and businesses actually pay up? Security company Bitdefender has conducted research on this topic.

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While this research is focused on US and Europe, ransomware is a growing threat across the world. According to security vendor Norton, cybercrime has cost Australians over $1.2 billion and Australia came in at eighth place for countries that are most affected by ransomware. It is worth keeping track of attitudes of individuals and organisations around the world and learn how they are dealing with increasing cybersecurity threats.

The study was conducted on 3009 internet users and organisations from the US, France, Germany, Denmark, the UK and Romania and canvases their experiences with data loss and ransomware.
Here are some key stats from the BitDefender report:

  • Fifty per cent of users can’t accurately identify ransomware as a type of threat that prevents or limits access to computer data
  • Half of victims are willing to pay up to $500 to recover encrypted data
  • Personal documents rank first among user priorities
  • Thirty-five per cent of users unaffected by ransomware think it is improbable that they will get infected

Many security experts agree that you shouldn’t pay extortionists to reclaim control of an infected computer because there’s no guarantee that the attackers will honour their word. But when important files and precious photos are at stake, it’s difficult to not cough up the money.

You can find advice on how to protect yourself against ransomware here.

Would you pay the ransom to recover your files if you fall victim to ransomware? Let us know in the comments.

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