At least 222 Japanese companies have paid ransomware attackers in the past, yet around 60 percent of them still failed to recover their data, said a recent survey highlighting the persistent risks of cyber extortion.
The findings come from a January survey conducted by the Japan Institute for Promotion of Digital Economy and Community, which polled 1,107 firms. Of those, 507 companies reported being hit by ransomware attacks, in which hackers encrypt or block access to data and demand payment for its restoration, Japan Today reports.
Among companies that paid the ransom, 83 said they were able to restore their systems and data, while 139 reported they were unable to recover them. Meanwhile, 141 firms said they experienced ransomware attacks but managed to restore their data without paying.
Experts caution against paying ransoms, warning that such payments finance criminal networks. The institute noted that the results underscore a key risk: “paying a ransom does not guarantee data recovery.”
Financial losses varied significantly. About half of affected companies reported losses ranging from 1 million yen to under 50 million yen ($333,000), including ransom payments and recovery costs. Meanwhile, 16 percent said they suffered little or no damage, while 4.3 percent reported losses exceeding 1 billion yen.
Recovery times also varied widely. According to the survey, 176 companies said restoration typically took between one week and one month. However, some firms reported that their data remained unrecovered even after three months.
Yukimi Sota, from the Japanese subsidiary of US cybersecurity firm Proofpoint, urged organizations to maintain strong digital defenses. “It is also vital to back up your data regularly to minimize damage,” she said, recommending that companies keep security software updated to reduce vulnerability to attacks.
By Vafa Guliyeva
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