How much is the average cost of a ransomware attack?

Ransomware attacks are on the decline, but the cost to recover is an all-time high.

Author

Maziar Foroudian
May 10, 2024

Latest Stories

Are you ready for Mother's Day? Get ahead of the game with the latest data on gift trends, budgeting, and shopping habits. From in-store purchases to the influence of AI, find out how consumers are approaching Mother's Day shopping this year.

Ransomware attacks are on the decline in Australia, but the cost to recover from them has reached a staggering average of $6 million. Discover the alarming trend and how organizations can defend against this dangerous cybercrime in the State of Ransomware 2024 report by Sophos.

Are you a franchisee or considering becoming one? Learn about the potential overhaul of the Australian franchise industry, including a proposed licensing scheme, increased penalties for Code violations, and more safeguards for franchisees. Stay informed!

Discover how one fashion brand is revolutionizing the recruitment process for people with disabilities. Learn how the Field platform connects talented individuals with inclusive employers, making a positive impact on both businesses and society. Read more on LinkedIn, Twitter, Facebook, and Instagram.

Inflation, market response, and economic uncertainties - all key factors in the RBA's decision to keep Australia's interest rate at 4.35%. Get a thorough analysis of the current situation and its potential impact in this must-read article.

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Top stories

As Australia approaches its federal budget, the emphasis is on supporting small businesses without taxpayer subsidies. The key lies in reducing regulatory burdens and providing certainty for programs like the Instant Asset Write-Off to encourage investment and employment.

As the federal budget approaches, Australians anticipate relief from rising living costs. SMEs face challenges due to limited resources. A ‘wishlist’ for the 2024 budget includes incentives for innovation, support for knowledge-based businesses, increased capital access for women-led and Indigenous SMEs, skilled migration acceleration, and ESG reporting support.

Australia

Supermarket giants face scrutiny as a parliamentary inquiry recommends divestiture laws to break up market power. Grocery prices have dropped temporarily, prompting debate on its long-term effects and Labor's hesitancy to back the proposal.

Australia’s Consumer Data Right (CDR) scheme, aims to give consumers control over their data. Open Banking is the first use case, offering financial benefits and security. Consumer awareness and education on CDR are lacking, hindering its potential.

Australian Economy

Despite inflation fears, business loan demand is spiking due to a strong job market, prompting warnings of rising prices for labor and equipment. Commonwealth Bank reported a $2.7 billion increase in corporate loans.

International investors are supporting Australia's plan to transition away from coal with a new $7 billion green bond program. The government aims to fund environmentally beneficial infrastructure projects, reducing greenhouse gas emissions.

World

Amid China's struggling economy, Pangdonglai grocery stores are thriving with long queues of shoppers. This success offers insights on consumer sentiment and potential strategies for economic revival. Retail spending growth contrasts with high-end stores closing.

Despite a decade of challenges, European banks like BBVA and Sabadell are facing brighter prospects in 2020. With improved market conditions, investors are once again finding value in the financial sector.

The EU's concern over China's overcapacity in electric vehicles and steel has led to discussions of countervailing tariffs. This could potentially impact industries and jobs in Europe. China's steel exports increased by over 28% in the first quarter of this year.

The United States and China are facing a complex relationship as they meet to discuss climate change and competing economic interests. The Biden administration struggles to balance cutting emissions while protecting American industries. Both countries must navigate trade tensions and national security concerns.

Tech

AlphaFold, an AI technology by Google DeepMind, has revolutionized protein folding prediction, accelerating drug discovery and disease research. The new version, AlphaFold3, extends its capabilities to other biological mechanisms, offering significant promise in drug development.

Rumors of ChatGPT launching a search feature soon are heating up, with OpenAI reportedly developing a feature that searches the web and cites sources in its results. Will it be a Google Search killer?

Curated for you

Gen Z, a digitally savvy generation, values authenticity, social responsibility, and unique experiences. Brands can connect with them by understanding their habits and values, building trust, utilizing short-form content, influencer marketing, and prioritizing transparency and responsiveness in customer service.

The new report from LinkedIn and Microsoft revealed the dual nature of AI in the workplace - employees discreetly using AI tools and employers seeking non-technical talent with AI skills. Despite the demand for AI knowledge, fewer employers provide training or tools, leading to employees adopting AI tools independently to boost productivity.

As summer arrives, brands can boost sales by strategically collaborating with influencers. Data shows an increase in affiliate sales and GMV, highlighting the effectiveness of influencer marketing. Choosing the right platform, niche, and emerging social media can enhance success.

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