Ransomware attacks cost healthcare sector $2.57M in 2024 as cases increase --[Reported by Umva mag]

• Ransomware attacks cost the healthcare sector $2.57M, with only 22% of ransomware victims fully recovered in a week or less.
• Organizations with breached backups were twice as likely to pay the ransom to recover encrypted data.
• Insurance providers play a significant role in these ransom payments, contributing to 77% of cases and covering 19% of the total ransom amounts.

Cyber-attacks targeted towards health organisations have increased by 7 per cent in the past year to hit a four-year high since 2021. New findings titled “The State of Ransomware in Healthcare 2024,” by cybersecurity firm Sophos, reveal that healthcare is reporting a rise while other sectors posted a drop.

Of those organizations surveyed, two-thirds or 67 per cent were impacted by ransomware attacks in the past year, up from 60 per cent in 2023.

The rising rate of ransomware attacks against healthcare institutions contrasts with the declining rate of ransomware attacks …

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