The Ransomware Threat in 2024 is Growing: Report - The ransomware threat is increasing and evolving in 2024, with criminals focused on data extraction. The volume of ransomware attacks has more than doubled from 2022 to 2023. The success of ransomware is demonstrated by the increase in victims who have paid the ransom. Cyberinsurance may be a factor in the willingness to pay. Security budgets have increased more for prevention than recovery. Ransomware attacks have negative effects on victims, including lost revenue and reputational damage. Board-level concern for ransomware is high. Criminal motivations for ransomware include data exfiltration, supply chain attacks, creating chaos, and geopolitics and activism. Ransomware is getting worse and is used by cybercriminal groups and nation-state actors.

https://www.securityweek.com/the-ransomware-threat-in-2024-is-growing-report/