Ransomware remains a top cybersecurity threat for businesses, according to the latest Beazley Breach Briefing, an annual update on cyber trends produced by Beazley.
Ransomware attacks skyrocketed last year, according to the firm. The insurer’s in-house team of cyber breach experts, Beazley Breach Response (BBR) Services, reported the number of ransomware attack notifications against clients shot up 131% from 2018. The sums demanded by cyber criminals also rose exponentially, sometimes reaching seven or eight figures, Beazley said.
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