2023 Ransomware Attacks Soaring: Is Your Business Prepared?

Recently, Corvus Insurance released a report on ransomware attacks for the third quarter of the year, and the statistics are alarming. According to the report, cyberattacks have increased by more than 95% compared to 2022. At LANKEY I.T., we’ve helped Fort Wayne area businesses secure their information for years, and the uptick in ransomware attacks highlights the importance of cybersecurity services for businesses now more than ever. Here’s a brief overview of the data from the report.

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Ransomware Attacks Breaking Records

The Corvus Insurance Report revealed that this year’s ransomware attacks have broken records, soaring to unprecedented levels. It notes that the average ransom demand has also tripled compared to the previous year. Cyber criminals are becoming increasingly sophisticated in their attacks and are targeting businesses of all sizes and industries. The rise in these attacks serves as a warning to all businesses to shore up their cybersecurity defense measures.

Law Offices and Manufacturing Industries Hit Hard

The impact of ransomware attacks is not limited to a particular industry. The report found that law office attacks have increased by over 70% among other industries and manufacturers by over 60% in Quarter 3. Transportation, logistics, and storage attacks are up over 50% from the previous year. If these trends continue in quarter 4, which is likely, this year is set to be a record breaker for ransomware attacks.

Cyber Attacks Summer Break Later and Shorter Than Usual

It’s been noted that ransomware tends to follow a pattern that goes along with the seasons. This is simply because cyber criminals are human and want to spend the stolen money they’ve accumulated. It makes sense that in the past, ransomware attacks decreased during the summer months. But surprisingly, this downtick happened later than usual this year and didn’t last as long as anticipated. In fact, July saw an increase in ransomware attacks compared to the same month in 2022.

Protect Your Business

2023 has seen an unprecedented rise in ransomware attacks, which has affected businesses of every size and industry. The increase serves as an important reminder of the significance of cybersecurity services. As a business owner in Fort Wayne, working with IT professionals who can help you improve your security measures and protocols is crucial. A data breach can have dire consequences, and no business is immune to ransomware attacks.

As the new year approaches, ensure your Fort Wayne area business is prepared for the increasing threat of ransomware attacks. Contact LANKEY I.T. at (260) 800-3850 or request a consultation online. Let our team take care of all your cybersecurity needs so your business doesn’t become a part of the ransomware statistics for next year.

“2023 Ransomware Attacks Up More Than 95% Over 2022, According to Corvus Insurance Q3 Report.” Press Release. DarkReading. 24, Oct. 2023. 23, Nov. 2023