Financial Impact

Cost of Ransomware Attacks

Ransomware financial losses

Financial Impact of Ransomware Attacks

Direct Financial Costs

Ransom Payments: For example, Caesars Entertainment reportedly paid $15 million following a ransomware incident. (Source)
Recovery Expenses: Average recovery cost from ransomware in 2021 was about $1.85 million. (Source)

Indirect Financial Costs

Operational Downtime: 66% of affected organizations reported significant revenue loss. (Source)
Reputational Damage: Loss of customer trust can lead to decreased market share.
Legal and Regulatory Penalties: Breaches of sensitive data can incur fines and lawsuits.

Rising Frequency and Costs

In 2024, 65% of financial service firms reported being targeted. (Source)
By 2031, ransomware is projected to cost over $275 billion annually. (Source)

Case Studies

MGM Resorts International (2023): Estimated $100 million financial impact in Q3. (Source)
Stoli Group’s U.S. Division (2024): Attack disrupted operations, contributing to bankruptcy. (Source)