Resilient, an IBM Company, announced Dynamic Playbook to help enterprises respond to ransomware and other cyber attacks.
Resilient Dynamic Playbooks, the latest innovation to Resilient’s Incident Response Platform, orchestrate response in real-time to cyber attacks.
According to a new IBM study, 7 out of 10 U.S. businesses surveyed infected with ransomware have paid to resolve a ransomware attack. More than half paid more than $10,000.
Resilient’s Dynamic Playbooks provide orchestration of incident response by adapting in real-time to the details of a cyberattack or other business threat, and enabling effective, rapid response to more sophisticated threat types.
“Sophisticated threats like ransomware require adaptive response methods. Resilient’s Dynamic Playbooks set another new standard for agility, intelligence, and sophistication in the battle to respond to and recover from today’s complex cyber threats,” said John Bruce, CEO and co-founder of Resilient, an IBM Company.
The study by IBM Security said over 50 percent of consumers surveyed said they would not pay to regain access back to personal data or devices aside from financial data.
The IBM X-Force study, “Ransomware: How Consumers and Businesses Value Their Data” surveyed 600 business leaders and more than 1,000 consumers in the U.S.
While over half of consumers surveyed indicated they would not pay the ransom, when asked about specific data types, 54 percent indicated they would likely pay to get financial data back.
Also, 55% of parents would be willing to pay for access to digital family photos vs. 39 percent of respondents without children.
Ransomware was one of the top cybersecurity threats in 2016 with FBI estimating cybercriminals, in the first three months of this year, making a reported $209 million. This would put criminals on pace to make nearly $1 billion in 2016 from their use of the malware.
According to IBM X-Force research, ransomware made up nearly 40 percent of all spam e-mails sent in 2016, demonstrating a significant increase in the spread of the extortion tool.
The study found 70 percent of these executives said their company has paid to resolve the attack, with half of those paying over $10,000 and 20 percent paying over $40,000.
Nearly 60 percent of all business executives indicated they would be willing to pay ransom to recover data. The data types they were willing to pay for included financial records, customer records, intellectual property and business plans.