# Fifth Sophos State of Ransomware Report Reveals Key Insights
## Introduction
The fifth Sophos State of Ransomware Report provides a comprehensive overview of the real-world ransomware experiences of 5,000 organizations worldwide. From the root cause of attacks to the severity, financial impact, and recovery time, this report delves deep into the evolving landscape of ransomware incidents.
## Key Findings
– **Attack rates have dropped:** While 59% of organizations were hit by ransomware last year, there has been a slight decrease from previous years.
– **Recovery costs have increased:** Despite the drop in attack rates, overall recovery costs have soared to $2.73M, a 50% increase from the previous year.
– **Rare full estate encryption:** On average, only 4% of organizations reported having 91% or more of their devices impacted by ransomware.
– **Increase in ransom payments:** More than half (56%) of organizations that had data encrypted admitted to paying the ransom, with the average payment increasing significantly.
## Insights into Ransom Payments
– **Payment disparity:** While ransom payments have increased, only 24% of respondents paid the original demand, with 44% paying less and 31% paying more.
– **Average payment amount:** The median ransom payment has increased 5-fold over the last year, from $400,000 to $2 million.
## About the Survey
The report is based on an independent survey commissioned by Sophos of 5,000 IT/cybersecurity leaders across 14 countries. Conducted by research specialist Vanson Bourne, the survey provides valuable insights into the current state of ransomware attacks.
## Key Points
– Ransomware attack rates have dropped, but recovery costs have increased significantly.
– Full estate encryption is rare, with most organizations reporting only a partial impact on their devices.
– More organizations are opting to pay the ransom to recover encrypted data.
– Ransom payments have soared, with victims rarely paying the initial sum demanded.
## Summary
The fifth Sophos State of Ransomware Report sheds light on the evolving landscape of ransomware attacks, highlighting the increasing financial impact and recovery costs faced by organizations globally. With insights into ransom demands, payments, and recovery methods, this report serves as a valuable resource for cybersecurity professionals looking to enhance their defenses against ransomware threats. Download the full report for a detailed analysis of the findings.