With a single ransomware attack, your business can be disabled, and it can cost you a large amount of money to pay the demanded ransom. So, most firms whose computers are hacked by ransomware pay those hackers out of desperation in saving their data loss. However, according to the law enforcers, they are just making the situation worse.
Due to continued ransomware attacks to different persons or companies, you might wonder how much it will cost you to save the data loss or remove the ransomware.
What will this Cost A Person or Company?
Did you know that the demand random is only a small portion of the total ransomware attack cost? Determining the overall price can be a bit tricky since there are various factors to be considered when recovering the data loss.
Typically, companies consider two factors when calculating the cost of loss – the ransom demand and the recovering of data cost. But most of the time the higher cost goes to restoring the computer system.
Other considerations when calculating the total cost of loss include the increased number of temporary staff and data recovery consulting services. The productivity and revenue of the company are also compromised.
Some Recent Ransomware Costs
- In July 2018, the Erie County Medical Center Buffalo, New York spent an estimated amount of $10 million as a response to the $30,000 ransomware demand.
- During the ransomware attack in March 2018, the Atlanta City has spent almost $5 million only for hiring IT services.
- The governor of Colorado has to allocate a total budget of $2 million for resolving the ransomware infected Windows systems of the state department of transportation.
- According to Cybersecurity Ventures, the ransomware cost of loss is $325 million in 2015, $5 billion in 2017, and predicted an exceeding $11 billion this 2019.
Protect your Computers
- Get top of line anti-virus protection for you computers.
- Consider Managed anti-virus scanning.
- Check out our Additional Services for help in management.