3, December 2023
Exploring Ransomware Prevention and Recovery
In the world of modern manufacturing, the convergence of technology and production has opened new frontiers of efficiency and innovation. But this progress has come with a hidden cost. The very systems that enable seamless operations and interconnectivity also expose manufacturers to cybersecurity risks.
Among these varied and ever-evolving challenges, ransomware has emerged as uniquely menacing. It's not just a threat to individual computers or isolated systems; it's a weapon that can paralyze entire organizations.
In 2015, the global cost of ransomware was a mere $325 million. Fast forward to 2021, and that number skyrocketed to a staggering $20 billion, accounting for approximately 20% of all cybercrime. And this threat is only growing, with Cybercrime Magazine predicting it will cost victims roughly $265 billion annually by 2031.
Given this steep increase in ransomware attacks, manufacturers must act now to avoid becoming the next victim.