Although ransomware attacks represented just 17 percent of all cyberattacks in 2022, they cost victims an estimated $30 billion in 2023. According to IBM’s Cost of a Data Breach 2023 report, the average cost of these attacks is $5.13 million, and that doesn’t even begin to cover the complete cost of the disruptions, including lost business, reputational damage, and the extensive resources required for recovery and remediation.It used to be that companies with reliable data backups could recover ...