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Digital Identity, Security & Online Fraud

Over 49 % of businesses targeted by ransomware in 2016

Thursday 12 January 2017 | 10:49 AM CET

Radware’s Global Application and Network Security Report 2016-2017 has revealed that 49% of businesses confirmed being the subject of a cyber-ransom campaign in 2016.

Other findings of the report include: 27% of IT professionals surveyed chose data leakage or loss as a key concern when faced with a cyber-attack, while only 19% chose service outage, 16% selected reputation loss and just 9% cited customer or partner loss. 41% reported that ransom was the top motivation behind cyber-attacks they had experienced in 2016, followed by insider threats (27%), political hacktivism (26%) and competition (26%).

Furthermore, 55% of the surveyed organizations said that the internet of things (IoT) complicates their detection or mitigation requirements, as it increases the surface of the attack landscape.

When it comes to DDoS, massive attacks made headlines in 2016, but Radware’s research shows that attacks of more than 50Gbps made up just 4% of attacks experienced. More than 83% of DDoS attacks reported by organizations were under 1Gbps.

Amid all of this, the report also reveals that companies are still not prepared to face the threat landscape. In fact, 40% of organizations do not have an incident response plan in place; 70% percent do not have cyber-insurance; and despite the prevalence of ransomware, only 7% keep Bitcoins on hand.

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