How much money do companies spend on ransomware attacks each year?

Ransomware attacks have been estimated to cost companies billions of dollars annually in financial damages. According to various reports and studies, the global cost of ransomware attacks exceeds tens of billions of dollars per year.

The exact amount can vary widely depending on the size and industry of the company targeted, the extent of the attack, and the specific ransom demands made by the cybercriminals. Organizations often have to pay significant sums to recover their data or systems, incur costs related to investigating and mitigating the attack, and may also face reputational damage and loss of business as a result of such incidents.