Report: 55% of Americans say paying ransoms encourages cybercrime

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More than half (55%) of Americans say paying a ransom only further encourages ransomware and cybercrime activity, according to a new study from next-generation data management company Cohesity. Research also shows that 40% of Americans believe companies shouldn’t pay a ransom, and more than a fifth (22%) would lose faith in a company that pays.

Overall, the results suggest that companies that comply with the demands of ransomware attackers run the risk of diminishing their own reputation with consumers while motivating bad actors to mount more attacks.

More than half (55%) of Americans said they would lose confidence in a company that has been the subject of a ransomware attack because such events signal a failure in the implementation of security protocols and appropriate data management systems to protect the data. Almost as many said that a ransomware attack that impacted their personal data would reduce their trust in a business.

While 43% believe ransom payments will increase the price of goods and services, a larger proportion fear ransomware attacks will expose their personal information (59%) and 55% fear their personal information will be sold .

Most said they anticipate more attacks in 2022 than in 2021. To minimize the likelihood of ransomware attacks, respondents said companies should test their systems for threats, install software from security and adopt next-generation data management strategies that safeguard and protect their personal data and detect and respond to potential threats.

Cohesity based its research on a survey of more than 1,000 American adults.

Read the full Cohesity report.


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