BGH Capital-backed CyberCX, whose response team has been on the ground helping deal with some of country’s most high-profile cyberattacks, found ransom payments fell 50 per cent, based on a sample of 100 major incidents handled by the firm in 2023.
CyberCX declined to provide more data on the 50 per cent fall in ransom payments due to client confidentiality. – but it is discouraged. This is because paying a ransom does not, in all cases, mean the stolen data will be deleted by the criminals and the money offers incentive for them to continue targeting other companies.
It is feasible, the report said, that data could be reused or sold to other threat actors, but that could not be verified.
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