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Around 25% of SMEs paid multiple ransoms to hackers

Posted On: Sep. 29, 2022 9:48 AM CST

Cyber liability


A survey by Ireland-based IT services provider Typetec Ltd. found that around 25% of the small and medium-sized enterprises in Ireland have paid ransoms to hackers multiple times, but many of them still had their sensitive data leaked into the public domain, Silicon Republic reported. While most of the surveyed Irish SMEs have cybercrime insurance and a cryptocurrency reserve, 71% of them believe that the cyber insurance market is fueling the ransomware crisis.