Cost Of Ransomware In 2024 In America

Cost Of Ransomware In 2024 In America. Ransomware will cost its victims around $265 billion usd annually by 2031, up from $42 billion in 2024, and $20 billion in 2021, cybersecurity ventures predicts, with a new attack (on consumers and organizations) occurring every two. Organizations that experience ransomware attacks may incur costs from paying the ransom, data recovery, productivity loss and reputation damage.

The mean cost in energy, oil/gas and utilities organizations to recover from a ransomware attack was $3.12m in 2024, similar to the $3.17m reported in 2023. The forecast for cybercrime in 2024 is harsh with attacks increasing in frequency, sophistication, and severity.