Bill Toulas reports:
The number of ransomware victims paying ransom demands has dropped to a record low of 29% in the final quarter of 2023, according to ransomware negotiation firm Coveware.
This trend became apparent in mid-2021 when the payment rate dropped to 46% after previously being 85% at the start of 2019.
According to Coveware, the reason for this continual drop is multifaceted, including better preparedness by organizations, a lack of trust towards cybercriminals promising not to publish stolen data, and legal pressure in some regions where paying a ransom is illegal.
Coveware has found that even when data is stolen in cyberattacks, the payment rate was just 26% in the last quarter.
Read more at Bleeping Computer.