Almost every seventh company in Germany paid a ransom of $1 million, for example, to recover data encrypted by the malware.
This is shown by the results of the “CISO Study” 2023 survey conducted by IT security company Splunk from the USA, which was recently acquired by Cisco, a network equipment provider, as part of a billion dollar deal.
According to the survey, 19% of all affected companies in Germany paid ransom directly, 35% through cyber insurance, and about a third (27%) through a negotiator.
Almost one in seven companies in Germany paid a ransom of $1 million (equivalent to about €945,000), to recover data that had been encrypted by fraudsters using extortion software (also known as ransomware). This is shown by the results of the “CISO Study” 2023 survey conducted by the IT security company Splunk from the United States of America, which was bought by network equipment provider Cisco just a few weeks ago in a deal worth $1 billion.
According to the survey, 19% of all companies in Germany affected by cybercrime paid a ransom directly, 35% through cyber insurance and about a third (27%) through a third party, i.e. a negotiator. The opinions of 350 security managers, such as chief information security officers (CISOs), at companies from ten countries were surveyed. These include Germany, but also Great Britain, France, the United States, India, Canada, New Zealand, Australia, Japan and Singapore.
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