Nearly 1 in 5 ransomware attacks results in a lawsuit

A new study from Comparitech finds that around a fifth of ransomware attacks in the US led to a lawsuit in 2023. It shows that 355 lawsuits were filed following 3,002 ransomware attacks. Of these 228 have been completed and 134 were successful -- that is they led to a data breach settlement, resulted in the company being fined for failing to safeguard systems and/or data, or were settled out of court. In 112 cases, settlement figures are available. These totaled over $245 million with the average settlement being $2.2 million. 2023 saw an average settlement figure of nearly $2.1… [Continue Reading]