October 20, 2021

Ransomware shame: More than half of business owners conceal cyber-breach

The ransomware scourge may be even worse than widely believed as most business executives hide cyberattacks, a new survey says.  

One-third (32%) of enterprises experienced a six-figure breach last year and well over half (61%) of business owners admitted to concealing a breach, according to the findings from a global survey of over 1,400 IT decision-makers at large organizations by cybersecurity firm Arctic Wolf. 

“Most incidents do not get made public. After all, not every ransomware incident spreads to, nor takes down, an entire system or company infrastructure,” Ian McShane, field chief technology officer at Arctic Wolf, told FOX Business. 

“Unsurprising when you think of the negative press and brand damage, let alone potential for fines or other penalties depending on the industry,”…

Read full article here: www.foxbusiness.com