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5 Reasons Why Ransomware Costs are Getting Higher

November 17, 2021

The ransomware epidemic has been ongoing for many years now, with no end in sight. The ransomware cost is getting higher and higher for both companies and individuals alike. Here are five reasons why the ransomware cost is getting higher:

1) The ransomware economy value – Ransomware gangs make an estimated $5 billion to $50 billion each year. The ransomware economy is one of the largest underground economies in existence, with very little law enforcement or government resistance.

2) Ransomware gangs are now targeting individuals – An estimated 65 percent to 70 percent of ransomware attacks are now aimed at consumers and small businesses. This is an increase from 2016 when these types of ransomware attacks were estimated to be around 30 percent.

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