South African companies paid an average "ransom" of R17.9 million to recover encrypted data

[Jan]

South African firms paid ransomware attackers an average of R17.9 million

Sophos released its State of Ransomware in South Africa report for 2024, which shows that it is more expensive for companies to recover from ransomware attacks than to pay the extortion demand.

It found that the mean ransom payment made by firms was $958,110 (R17.9 million) compared to the average recovery cost of $1.04 million (R19.44 million). The recovery cost excludes all ransom payments.

 

[Longboi]

Seems like I am in the wrong type of job.

 

[Botha22]

An advert for a ransomware company.
Studies show that it is more expensive for your company to recover from ransomware attacks than to pay the extortion demand, so pay up!

 

[Quicks]

Seems there's good money becoming a cyber criminal. Crazy times we are living in.

Where criminals hold all the power.

 

[SeaSickMama]

guess its true we charge one of our larger clients aprox R1.2-1.3 Million per a year to look after their enviroment on a full time basis.