52% would pay up if computer taken hostage by ransomware

In the wake of the WannaCry outbreak, Carbon Black have released the findings of a large U.S. survey that reveals consumers' response to ransomware.

by Helen Leggatt

Carbon Black's survey of 5,000 consumers in the U.S. found that, while seven out of ten consumers trust financial institutions and healthcare providers to keep their data safe, only half (52%) trust retailers to do so. Yet, while the financial sector ranked top in the 'most-attacked industries' last year, retail didn't even make the top 5.

Furthermore, the majority of consumers believe the responsibility is on the individual businesses to keep their data safe, ahead of cybersecurity companies/cybersecurity software vendors, software providers (Microsoft, Apple, Google, etc.), and government organizations (FBI, NSA, CIA, etc.).

For more than half (57%) of consumers, WannaCry has been their first exposure to how ransomware works, despite it being around for more than a decade. When asked, 52% of consumers said they would pay a ransom if their personal computer/data was taken hostage by ransomware, but only 12% said they would pay $500 or more.

According to recent research from Verizon, the biggest trend this year is the rise of ransomware. In Verizon's 2014 report, ransomware was the 22nd most common form of malware. This year it's number five. According to the report authors, the ability for hackers to get a "quick buck" from ransomware means this particular threat won't be abating any time soon.