Ransomware attacks could amount to USD 11.5 billion in 2019, SonicWall estimates

Aurel Dragan 18/01/2019 | 16:22

The total costs that global companies could pay for the redemption of sensitive information stolen by cybercriminals through ransomware attacks could amount to USD 11.5 billion in 2019, according to estimates, said Michael Berg, SonicWall’s executive director, EMEA Sales.

According to cyber security data, average costs for data recovery could reach USD 3.9 million. Over the past year, 11 percent of global companies attacked by ransomware had to stop their activity until the problems were solved.

SonicWall analysts report that since May 2018, global losses caused by the loss of sensitive information amounted to USD 12.5 billion.

In terms of cyber security jobs, SonicWall estimates that in 2019 6 million new jobs could be created by 2022, with the growth rate of this segment would be 36.5 percent.

The cyber security company claims that last year it managed to stop 10.5 billion malware attacks worldwide, up 22 percent from 2017.

“In Europe alone, we are talking about 1.64 billion malware attacks halted in 2018, 23 percent more than in the previous year. We also had 36.1 million ransomware attacks stopped, 13 percent down,” said Berg.

SonicWall was founded in 1991 in Silicon Valley under the name of Sonic Systems and in 1998 launched its first firewall solution. A year later, in 1999, the company changed its name to SonicWall.

At present, worldwide, the company has about 1,350 employees worldwide. The company provides support for its products in nine languages: English, French, Italian, German, Portuguese, Spanish, Japanese, Mandarin and Korean. SonicWall’s Romanian business are growing yearly by approximately 30 percent.