Maritime firms pay ransomware demands in increasing numbers

A recent study by law firm Holman Fenwick Willan LLP and maritime cyber security firm CyberOwl Ltd. found that 14% of industry professionals in the maritime sector admitted to paying a ransom following a cyber attack in this year, compared with 3% in 2022, TradeWinds reported. The study found that maritime companies are paying ransomware demands in growing numbers with the average cost of unlocking computer systems reaching $3.2 million this year.