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by John W. Simek, Vice President of Sensei Enterprises, Inc.

2023 Ransomware Payments on a Record Pace

July 13, 2023

Ransomware revenues dipped in 2022, but that trend appears to be reversed. The Hacker News reported some recently released findings from Chainanalysis. “Ransomware attackers are on pace for their second-biggest year ever, having extorted at least $449.1 million through June. If this pace continues, ransomware attackers will extort $898.6 million from victims in 2023, trailing only 2021’s $939.9 million.” Pretty sad that crime still pays.

If you haven’t done so already, it’s time to review your cybersecurity posture. Consider implementing some sort of Endpoint Detection and Response (EDR) solution. In addition, there are now very affordable Security Information and Event Management (SIEM) solutions available for small businesses. A SIEM centralizes the analysis of security events from multiple devices to identify, detect and respond to a potential threat. Security awareness training can also go a long way in minimizing being a victim of a ransomware attack. Don’t forget about implementing MFA as well.

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