X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
The average ransomware payout in Q4 2020 was $233,000, according to ITRC. In Q3 2018, for comparison, the average payout was less than $10,000. (Credit: igorstevanovic/Shutterstock.com) The average ransomware payout in Q4 2020 was $233,000, according to ITRC. In Q3 2018, for comparison, the average payout was less than $10,000.  (Credit: igorstevanovic/Shutterstock.com)

Although cyberattacks have been growing in volume and severity overall, malicious actors are targeting fewer individuals opting to target larger organizations, according to the Identity Theft Resource Center (ITRC), which reported a year-on-year decrease of 19% in the total number of reported data breaches.

In 2020, more than 300 million individuals were impacted by a data breach, a drop of 66% from 2019, ITRC reported. In 2018, there were more than 2.2 billion people impacted by a breach.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Steve Hallo

Steve Hallo is an assistant editor with PC360 Group. Prior to his current position, Steve spent nearly a decade covering retail transformation, consumer trends, manufacturing issues and supply chain challenges impacting global CPG markets. He can be reached at [email protected], and on LinkedIn and Twitter.  

More from this author

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.