Cyber Security Risk Overview:
Ransomware is on track for its highest grossing year ever, with the average ransom payment rising significantly.

Current Statistics:

• Median ransom payment in 2023: $200,000.
• Median ransom payment in 2024: $1.5 million.
• Total ransomware payments in 2024: $75 million, compared to $37.5 million in 2023.

Trends in Ransomware:

• Ransomware gangs are demanding larger payouts.
• Hackers are increasingly targeting companies with substantial financial resources.

Prevention Strategies:

• Active Monitoring: Essential for detecting and preventing attacks.
• Best Practices: Implementing security protocols can significantly reduce risk.
• Response Team: A quick and effective response team can mitigate damage even after an attack begins.
• Recommendations:
  • Regularly conduct drills to test response plans.
  • Maintain ongoing best practices and active monitoring.

Consultation Availability:

• Access to live, one-on-one consultation with licensed experts in various fields including cyber defense, insurance, and business development.

Call to Action:

• For questions or comments about the episode, use the link below to get in touch.
• Explore more topics with expert guidance through the provided link.

Thank you for tuning in! If you find this content valuable and wish to delve deeper, click the link below to connect with an expert.