80% of firms that experienced a ransomware attack have paid up, says research - generating millions of dollars of easy cash for criminals

A recent Hiscox report reveals that a staggering 80% of companies that faced ransomware attacks opted to pay the attackers, often with no guarantee of recovering their data. This trend highlights the growing threat posed by cybercriminals, especially as vulnerabilities related to artificial intelligence increase. The financial implications are significant, as these payments generate millions for criminals while leaving businesses grappling with operational disruptions and uncertainty about their data security.