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Japan and Netherlands-based businesses pay the largest price for ransomware attacks
May 2022 by AtlasVPN.com
Cybercriminals encrypt essential files and documents, leaving victims with the option of paying a ransom to regain access or restoring data from backups.
According to the Atlas VPN team’s findings, organizations in Japan and Netherlands paid the most significant price for suffering ransomware attacks in 2021. In addition, cybercriminals targeted media, leisure, entertainment, and retail businesses the most.
Businesses in Japan paid an average price of nearly $4.3 million in the most significant ransomware attacks in 2021. Japan is home to many companies in the IT and manufacturing industry, which is why cybercriminals target Japanese organizations heavily.
Companies in the Netherlands handed over an average of $2 million in ransom to cybercriminals. The Dutch government announced in 2021 that it might use intelligence agencies or military services to counter ransomware attacks.
Organizations in the Philippines paid an average price of $1.6 million in ransom. Israeli businesses handed over about $1.3 million to hackers after ransomware attacks in 2021. At the same time, Indian companies paid $1.2 million in ransom to decrypt their information.
Cybersecurity writer at Atlas VPN Vilius Kardelis shares his thoughts on ransomware attacks:
“Based on the evidence, ransomware assaults are not going away anytime soon. Hackers will continue to target various countries and businesses as long as they uncover flaws to exploit. Whether you are a smaller business or a giant corporation, spending on cybersecurity is necessary to keep your and your client’s data secure.”
Industries most targeted by ransomware
About two-thirds of all surveyed organizations claim to have experienced ransomware attacks in 2021.
Out of all surveyed media, leisure, and entertainment businesses, 79% suffered ransomware attacks in 2021. As social media and entertainment consumption increase, threat actors focus more on such channels.
The retail industry is the second most targeted by ransomware, as 77% of organizations claimed to have suffered an attack. Online shopping and e-commerce continued to grow in 2021, which fueled ransomware attacks on retail businesses.
Three out of four (75%) businesses in the energy and gas sector suffered ransomware attacks. Cyberattacks on such companies can have a significant effect not only on the business itself but also on countries’ supply of gas and petrol.
Out of surveyed respondents in the distribution and transport industry, 74% experienced ransomware attacks in 2021. The business and professional services sector is next up, as 73% of companies were attacked with ransomware.
