It is difficult enough to break into an information network, and even more difficult to remove data once inside. At least that was the case until recently. According to an analysis by Allianz, in cyber insurance claims exceeding EUR 1 million, the proportion of cases where data was exfiltrated rose from 40% in 2019 to more than 77% in 2023. Over that time, the proportion of companies paying ransom has increased from 10% to more than 50%. According to the research group Cybersecurity Ventures ransomware payments are expected to reach USD 265 billion by 2031, up from just USD 20 billion in 2021.
Source: Allianz, 2024.