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Over half of IT leaders admit that they would rather pay off a ransomware attack than invest in defending against one happening in the first place.

This is according to Osirium’s 2021 Ransomware Index survey of 1001 UK IT manager respondents, which also revealed that 53% don’t believe they invest enough to prevent ransomware attacks, whilst a similar number (52%) don’t feel supported to do so by their company’s board.

The thought of a ransomware attack is causing a great deal of anxiety for IT leaders, with less than 10% believing that they can prevent a future attack.

Of those surveyed, 86% said they feel stressed about the prospects of a ransomware attack, with 22% saying it more than doubled their stress levels.

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David Guyatt, Founder and CEO of Osirium, said, “This situation is unsustainable, and it is likely only a matter of time until many of these ill-prepared businesses fall victim to a ransomware attack. The cost of paying a ransom is merely the tip of the iceberg. Add in the real and virtual costs, such as reputational damage, regulatory fines and lost business through downtime, and it is hard to justify not having robust malware and ransomware protection in place.”

“Right now, many businesses are deep into the planning process as they prepare for 2022 and beyond. This will be a pivotal moment for UK business leaders, and those who neglect to prioritise their ransomware defence and remediation systems may just as well paint a target on their back. Failure to prepare, and the associated stress on the IT department, could easily also result in individuals experiencing major burnout, the impacts of which will only lead to further security challenges.” ‍

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