The State of Ransomware 2024 Whitepaper

This document is a whitepaper detailing the findings of the fifth annual Sophos study on ransomware, based on a survey of 5,000 IT and cybersecurity leaders across 14 countries conducted in early 2024. The report outlines the real-world experiences of organizations with ransomware attacks, examining the full victim journey from the root cause to the severity of attacks, financial impacts, and recovery times. The study introduces new areas of focus, such as the comparison of ransom demands versus payments and the influence of organizational revenue on ransomware outcomes. It also discusses the role of law enforcement in ransomware remediation. Key findings indicate that 59% of organizations experienced ransomware attacks in the past year, a decrease from previous years. The report analyzes attack rates by revenue and industry, revealing that larger organizations are more frequently targeted. Additionally, it identifies exploited vulnerabilities as the primary root cause of ransomware attacks, highlighting the significant impact of these incidents on organizations' operations and finances.