A third of businesses in Ireland reserve budget to pay cyberattack ransoms [Video]

Expleo, a global engineering, technology and consulting service provider, announced research findings which show that 31% of businesses in Ireland reserve budget to pay ransoms in the event of successful cyberattacks.

The survey also found that despite most organisations tackling multiple cyber threats on an ongoing basis, only a small proportion expect to fall victim to a cyber-attack in the next 12 months.

In anticipation of the launch of its Business Transformation Index 2024, Expleo’s analysis surveyed medium- to large-sized businesses across the island of Ireland, uncovering the impact and prevalence of cybersecurity threats.

It found that the payment of ransoms, and the expectation of paying them, is embedded in many organisations’ cybersecurity strategies.

In the last 12 months alone, 33% of businesses have paid a ransom to cyber-criminals.

The research found that one-third of enterprises have been severely impacted by an incident within their organisation in the last 12 months, while …