Almost a third of businesses in Ireland reserve budget for paying ransoms

Almost one third of businesses in Ireland reserve a budget for paying ransoms, while 53 per cent of businesses have fallen victim to social engineering cyberattacks in the last year.

Of those who fell victim to social engineering cyberattacks, 89 per cent reported that the attacks resulted in a security breach.

In the next year, 29 per cent of businesses anticipate there will be a successful cyberattack against their organisation, according to research by Expleo.

However, in the last 12 months, 33 per cent of businesses in Ireland have paid a ransom to cybercriminals.

Global engineering, technology and consulting service provider, Expleo, surveyed medium-to large-sized businesses across the island of Ireland, uncovering the impact and prevalence of cybersecurity threats.

The research also found that one third of businesses have been severely impacted by an incident within their organisation in the last 12 months, while 31 per cent have been severely impacted by a cybersecurity…