Cambridge Centre for Risk Studies and Kivu release first-of-its-kind benchmark of the cost-effective responses to cybercrime

News provided by

Dec 06, 2022, 12:00 ET

BERKELEY, Calif., Dec. 6, 2022 /PRNewswire/ -- In a report released today, The Cambridge Centre for Risk Studies (CCRS) and Kivu Consulting, Inc. have combined efforts to research and benchmark cost-effective responses to cybercrime. The research report, MITIGATING RANSOMWARE RISK: DETERMINING OPTIMAL STRATEGIES FOR BUSINESSES, assesses the threats posed by ransomware, reviews trends in ransom demands and payments, highlights the effectiveness of controls, and ranks the most pervasive ransomware in terms of both frequency and severity.

"Leveraging Kivu's evidence-based data set from +8 years of experience, this research partnership with CCRS is designed to quantify the value of specific cybersecurity defenses and connect it with the company's bottom line," said Winston Krone, Co-Founder and Chief Research Officer at Kivu.

"Incident responders like Kivu play a critical role in attack management and ransom negotiation and thus have access to a rich dataset. This is the first study analyzing real-world event data which will better inform a more strategic approach to cybersecurity risk management," said Jen Copic, Senior Risk Researcher, Centre for Risk Studies.

*Key takeaways:

The global dataset provides an aggregate, real-world view of 422 attacks carried out on 416 organisations.
Industrials is the most impacted sector in the dataset, driven by a large number of events targeting capital goods manufacturing firms and professional services firms.
84% of the ransom events occurred in the Americas.
A ransom was paid 72% of the time as observed in this dataset.
94% of the ransomware variants accept negotiation on their pricing.

To download the paper and sign up for upcoming webinars, please visit: https://kivuconsulting.com/mitigating-ransomware-risk/

About CCRS:

The Cambridge Centre for Risk Studies is based within the University of Cambridge Judge Business School. The Centre works closely with business partners in tackling complex issues of management science in risk.

About Kivu:

Kivu is a leading global cybersecurity firm that offers a full suite of cybersecurity services, including forensic investigation of, and recovery from, all forms of cyberattacks, continuous monitoring/detection/blocking of cyber threats, and strategy/compliance and testing. Kivu is an approved and trusted cybersecurity partner by 60+ insurance carriers and delivers its services to organizations in all industries.

SOURCE Kivu Consulting