Half of Belgian companies have been victims of cyberattacks
Half of Belgian companies have faced cyberattacks in the past year and 5 per cent have paid a ransom to hackers to release encrypted data, according to a survey by accountancy firm BDO.
Ransomware is a relatively new phenomenon, used by hackers to target companies or government institutions. When an employee unsuspectingly opens a ransom virus, all files are automatically encrypted and only the hackers can release them, after a ransom is paid. Payment is usually demanded in the form of anonymous cryptocurrencies such as bitcoin.
"Behind the scenes there are many more companies that see no other option than to pay"
A BDO survey of 521 companies shows that 5 per cent have paid ransoms in the past year. Among companies with five to 50 employees, the figure is 13 per cent.
“We are shocked by this ourselves,” said Sam Nelen, spokesperson for cybersecurity at BDO. “Every now and then a big case makes it to the media, but behind the scenes there are many more companies that see no other option than to pay.”
Belgium’s Centre for Cybersecurity warns against paying a ransom. Paying is no guarantee of getting the data back as in some cases, the decryption software does not work. It also perpetuates the criminals’ business model.
Finally, the survey shows that 80 per cent of companies have invested in cybersecurity in recent years, but 20 per cent say they have no interest in doing so, despite the threat posed by cyberattacks.
Illustration © PHOTO IMAGO
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