Why Do Organizations Pay Ransom During a Ransomware Attack?

Arctic Wolf's survey-driven report highlights ransomware as the top cybersecurity concern for organizations going into 2023, noting 42% experienced ransomware attacks and 74% paid some portion of ransoms. The report outlines three main reasons victims pay (insurer negotiation, low ransom relative to recovery costs, and perceived best option for business continuity) and recommends defensive measures including vulnerability management, strong access/identity controls (MFA), continuous monitoring/managed detection and response, and cyber insurance/incident response preparedness.