Average Ransom Payment Dropped by 34% in Q1, 2022
HIPAA Journal
Steve Alder
The average ransom payment in ransomware attacks fell by 34% in Q1, 2022, from an all-time high in Q4, 2021, according to ransomware incident response firm Coveware. The average ransom payment in Q1, 2022 was $211,259 and the median ransom payment was $73,906.
The fall in total ransom payments has been attributed to several factors. Coveware suggests ransomware gangs have been targeting smaller organizations and issuing lower ransom demands, due to the increased scrutiny by law enforcement when attacks are conducted on large enterprises. The median company size has been falling since Q4, 2020, and is now companies with around 160 employees. This appears to be the sweet spot, where the companies have sufficient revenues to allow sizable ransoms to be paid, but not so large that attacks will result in considerable scrutiny by law enforcement.
Another reason why total ransom payments have fallen is...