Canadian companies hit by ransomware attacks pay almost $500,000 on average to perpetrators, survey finds [Toronto Globe and Mail (Ontario, Canada)]
Palo Alto Networks, Inc. (PANW)
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Source: Toronto Globe and Mail
Canadian companies hit by ransomware attacks pay almost half a million dollars on average to perpetrators, according to the results of a new survey. The survey conducted by Angus Reid for cybersecurity company Palo Alto Networks in September but released Wednesday revealed the average ransom paid by Canadian companies was $458,247, while the average ransom demanded was $449,868. Nine per cent of respondents said they paid even more – between $500,000 and $1-million – while 8 per cent paid between $1-million and $5-million. “It’s not out of line with what we’ve seen globally or in the United States, but it’s part of this ongoing trend,” said Ryan Olson, vice-president of Palo Alto Networks’ Unit 42 threat intelligence team. “Ransoms (are) continuing to tick up and up as ransomware actors continue to put pressure on victims through multiple layers of extortion to ensure that if they are compromised, it’s going to be very, very hard for them to recover without paying the ransom.” His sur
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