Ransomware Payments Hit Record $1.1 Billion in 2023

The surge in ransomware attacks across various sectors underscores the escalating cyber threat landscape.

Ransomware payments reached a record $1.1 billion in 2023, marking a significant increase from $567 million in 2022.
The attacks targeted a wide range of sectors, including credit unions, fast-food chains, and healthcare facilities, causing major disruptions.
Nearly 300 hospitals were victims of ransomware attacks in 2023, highlighting the healthcare sector's vulnerability.
The use of artificial intelligence (AI) and machine learning (ML) technologies by financial institutions to combat fraud has surged from 34% to 70% between 2022 and 2023.
Law enforcement agencies have intensified their efforts against ransomware gangs, including offering rewards for information leading to the identification or location of leaders connected to the Hive gang.