Ransomware averaging $10.1M loss per incident.
Based on the information from the Fortinet article on ransomware statistics and trends for 2023:
Ransomware Losses and Impact in the US for 2023:
- Ransomware attacks have seen a significant rise, with a 13% increase year-over-year from 2021, surpassing the growth of the previous five years combined.
- About 70% of businesses were projected to face at least one ransomware attack in 2022.
- The education, government, and healthcare sectors were the most targeted. Specifically, education accounted for 30% of the data breaches in 2022, resulting in 1,241 incidents, with a recovery cost averaging between $1.42 million to $1.58 million.
- The healthcare industry saw a breach cost increase of 42% compared to 2020, averaging $10.1 million per incident. One notable instance was Universal Healthcare Services, which incurred $67 million in expenses due to ransomware.
- Small businesses reported 832 ransomware-related data breaches in 2022, with 130 confirming data loss. Nearly 80% of these attacks were due to ransomware.
- The government sector observed a trend of over $5.2 billion in ransom payments made in Bitcoin, primarily because of its anonymity.
- The financial sector, including banks, spent an average of $5.12 million to counter data breaches. Notably, American banks completed transactions amounting to $1.2 billion for ransomware settlements.
- A concerning statistic reveals that 80% of businesses that paid a ransom faced another ransomware attack, with over two-thirds (68%) experiencing a subsequent attack within a month.
For a comprehensive understanding and more detailed statistics, refer to the original source on Fortinet and some other relevant resources below.
![image of Ransomware Statistics, Data, Trends, and Facts [updated 2023]](https://paulbergman.org/wp-content/uploads/2023/09/image.png)
Paul Bergman runs a business strategy and cybersecurity consulting company in San Diego. He writes on cybersecurity and board management for both corporate and nonprofit boards.
CEO at Tracc Development, Inc.
Paul Bergman runs a business strategy and cybersecurity consulting company in San Diego. He is also CEO of a mentoring non-profit in San Diego, Lamp of Learning. He writes on cybersecurity and board management for both corporate and nonprofit boards.
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