Every year, BakerHostetler collects and analyzes various metrics about the incident response matters we handle. In 2022, we handled over 1,160 incidents. The most striking trends we saw across those incidents were an overall increase in the average ransom demands and payments, as well as an increase in recovery times in certain sectors. We also saw a decrease in all the metrics we track related to fraudulent fund transfers.
Ransomware
Between 2018 and 2020, we saw a huge increase in the average ransom that organizations were paying. As organizations became more attuned to the risk of ransomware and started putting additional security measures in place, we saw those figures drop in 2021. But in 2022, we saw the average ransom amount paid increase again, from $511,957 in 2021 to $600,688 in 2022.
Recovery times also increased – nearly doubling for some industries, like Healthcare and Retail, Restaurant, & Hospitality. The average amount of time from initial encryption to acceptable (not necessarily complete) restoration was
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