Ransom payments to cyber criminals on the rise as Irish businesses grapple with threats

Cybersecurity News

Ransom payments to cyber criminals on the rise as Irish businesses grapple with threats
Expleo
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Medium and large-sized business expect to invest €1.18m to boost defences in the next year, according to Expleo survey

One third of Irish businesses have been forced to pay a ransom to cyber criminals in the past year, a new survey has revealed. Photograph: Getty Images

Based on a poll of more than 200 organisations in the Republic and Northern Ireland conducted in July, the survey found that one-third of business have paid a ransom to cyber criminals in the past year. Another third of businesses said they had been severely impacted by a cybersecurity threat while 31 per cent said their organisation had dealt with a threat in their wider supply chain over the past 12 months.

Rob McConnell, global solutions director at Expleo Global, said the research shows businesses that have negotiated one form of attack will likely not be so fortunate with other forms.

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