FBI Study Points to Low Ransomware Reporting by Victims

By Marcos Colon

Considered one of the biggest threats aimed at businesses across the country, ransomware continues to wreak havoc, but many organizations are not reporting their incidents.

A new report published by the FBI’s Internet Crime Complaint Center (IC3) sheds light on the number of ransomware attacks reported last year.

“In 2016, the IC3 received 2,673 complaints identified as ransomware with losses of over $2.4 million,” according to the report. These numbers are very low when taking into account the number of data breaches, phishing, and extortion incidents reported to the law enforcement agency, according to a full report by Threat Post on the matter.

Many businesses may not want to file a police report because it then becomes public record, which at times could result in a hit to the brand reputation.

Although there is no regulation that requires organizations to file a report, the FBI created a forum for victims to share data tied to ransomware attacks to bolster its threat intelligence gathering. 

Get daily email updates

SC Media's daily must-read of the most current and pressing daily news

By clicking the Subscribe button below, you agree to SC Media Terms and Conditions and Privacy Policy.