Cybereason’s second edition of its Ransomware: The True Cost to Business Study 2022 reveals that businesses are witnessing the greatest volume of ransomware attacks across the globe.

The findings also show that businesses are prioritizing the “cure” over “prevention” when dealing with ransomware attacks.

Ransomware attacks are traumatic events, and when ransomware gangs attack a second, third or fourth time in a matter of weeks, it can bring an organization to its collective knees” said Eric Nagel, General Manager for APAC at Cybereason.

“Deploying effective anti-ransomware solutions is easier said than done, and the hackers know it. After being hit the first time by a ransomware attack, organisations need time to assess their security posture, determine what are the right tools to deploy, and then find the budget to pay for it. The ransomware gangs know this, and it is the biggest reason they strike again quickly.”

For more key global findings on ransomware and its true cost to business, check out this infographic.