Over 200 Japanese firms paid ransomware attackers, 60% fail to recover data

According to a survey by the Japan Information Economy Society Promotion Association, at least 222 Japanese companies paid ransoms to hackers to recover encrypted data after being subjected to ransomware attacks. Of the 1,107 companies that responded, 222 (approximately 20%) said they paid the ransom. Of these, about 60% were unable to recover their data despite paying, due to reasons such as the hackers’ failure to respond. The most common timeframe for recovery was between one week and one month. 79 companies reported spending over 100 million yen on investigations, ransom payments, and security measures after the attack, with some companies spending over 1 billion yen. Experts point out that companies should not pay ransoms because it provides a source of revenue for criminal organizations. They emphasize that there is no guarantee of recovery even after payment. They also stress that keeping security up-to-date and backing up data are crucial to minimizing damage.

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Chris Nakagawa

Biographical Info: -Building international financial networks, head of IT infrastructure projects including networks. -Involved in international financial infrastructure consulting, operational design for a major telecom company in Hong Kong. - Experience as a security analyst, providing integrated security system solutions. - Expertise advisory services for planning security countermeasures against advanced cyber attacks, as well as supervisory services focusing on incident response. - Advisory for CISO/CTO/CEO security guidelines / policy creation. - Supervising for SOC/CSIRT - Speaker at international conferences, author of numerous books, etc. - Certification : CISSP/GIAC/GCIA/CEH

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