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6 Ransomware Statistics You Should Know

By August 8, 2022February 16th, 2024No Comments

Ransomware attacks continue to be one of the most pressing cybersecurity issues in the world today. In 2022, the ransomware attacks, despite not dominating our newsfeed as much as they did in 2021, have continued to wreak havoc across all industries, resulting in millions of dollars in losses.

Unfortunately, even with statistics showing that ransomware attacks remain a major concern for businesses and other institutions, not many people know the extent of these attacks. In this section, we will look at some of these staggering statistics about ransomware attacks and how veterinary practice owners can use the data to better protect their practices.

1. 95 Percent of Cyberattacks Due to Human Error

The IBM Cyber Security Intelligence Index report states that 95 percent of all cybersecurity breaches are primarily caused by human error. Ransomware, one of the most common methods of attack, is also highly dependent on human errors to succeed.

Fortunately, human errors are also easy to eliminate. As a practice owner, taking measures such as training your staff can help address most ransomware attacks targeted at your practice.

2. 94 Percent of Ransomware is Delivered by Email

In its data breach investigation report of 2022, Email was found to be the most preferred method of attack. According to the report, over 90 percent of malware attacks were sent through emails. Some of the methods used to convince victims to download this malware included phishing, Business email compromise, and social engineering techniques.

To avoid attacks originating from your emails, ensure that all attachments in an email are scanned before downloading them. Veterinary practice staff should also be trained to recognize emails from genuine sources and how to detect phishing emails. Because human errors happen, even with training, you should also ensure you have good anti-malware software to detect, isolate and delete ransomware programs that get into your computer through emails despite taking all necessary measures.

3. 48 Percent of malicious Email Attachments are Microsoft Office Files

With studies showing that 94 percent of all malware is delivered through email, it is also important to recognize how this is achieved. According to research done by Symantec, 48 percent of malicious files that end up infecting computer systems are Microsoft office files.

Therefore, despite feeling a strong urge to open documents that are sent to you through email, it is important to keep in mind that there is a high chance cybercriminals are targeting you. To avoid this, ensure that all documents are scanned for viruses and malware before downloading. You should also ensure that attachments are from legitimate sources, that you recognize the sender, and that the email is authentic.

4. More than 70 Percent of Cyberattacks are Financially Motivated

In a report looking at 2021 cyberattack data, research by Verizon found that over 70 percent of attacks’ end goal was monetary gains. The research also showed that only 5 percent were motivated by espionage.

The data above is a clear indication that, should you find your veterinary practice compromised, chances are your attackers will be asking for money. It is also a revealing statistics of why, in the past few years, ransomware attacks have grown, whereas other forms of cyberattacks have remained constant or decreased.

5. Only 42 Percent of Victims Who Pay Get Data Back

Research done by Cybereason that queried 1,456 cybersecurity professionals from organizations with 700 or more employees found that only 42 percent of the victims received their data after paying ransomware attackers.

The research also goes further to state that, despite paying, 80 percent of these victims were also attacked again. Unsurprisingly, cybercriminals are highly likely to target victims they are confident will pay to secure their data. Therefore, if you decide to pay after your veterinary practice is compromised, there is a high chance that cybercriminals will launch the attacks again and demand more money.

6. 60 Percent of Small and Medium Businesses Close within 6 Months of Cyberattack

Research done by Cisco and the National Center for Middle Market involving data collected from 1,377 CEOs of small and midsize businesses found that 60 percent of businesses that get hacked go out of business within six months. Part of the reason for this is due to the damage caused by these cyberattacks.

The implication of this data is a clear indication that, should your veterinary practice be targeted, there is a high likelihood that the losses you will incur will not only involve data but will have both operational and financial costs. Therefore, it is important to have cybersecurity measures in your veterinary practice that ensures that such attacks do not happen. In cases where you are not able to prevent such attacks, it is important to have all your data backed up, which can help your practice to return to normality within a short period of time following a cyberattack.

Need help implementing your a better cyber security plan in your Veterinary Hospital?

Start by downloading our FREE eBook “5 Simple Steps to Protect Your Practice“. It contains 5 simple FREE or Low Cost actions you can take that will have a drastic impact on your cyber security posture.

Clint Latham

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