June 17, 2021

While one of the devastating effects of a ransomware attack is the fact that it prevents organizations and their customers from accessing critical data and resources, there are some wider consequences of ransomware attacks, according to cybersecurity firm Cybereason.

Some of these include the actual ransom paid to an attacker. 35% of respondents said they paid a ransom of between $350,000 and $1.4 million, while 7% paid more than $1.4 million.

Another effect is the enormous loss of revenue, which organizations experiences as a direct impact of ransomware attacks.

66% of the respondents said that they have suffered enormous revenue losses.

Also, people in an organization bear the brunt of ransomware attacks as employees are dismissed, especially those from the top as 32% of respondents stated that employees at C-level were forced to leave the organization as a direct result of ransomware attacks.

For more information, read the original story in TechRepublic.