Companies infected with the Cryptolocker ransomware are willing to pay up, with 40 percent of companies hit sending around $500 to recover files.
Cryptolocker is plaguing companies, encrypting certain file formats that cause workplace disruption, which is likely why companies are so quick to make a payment to cybercriminals overseas.
"If the results reported on the rate of Cryptolocker victims who pay a ransom are to be strengthened by further research, these figures would be extremely troubling, netting criminals behind the ransomware hundreds of millions." said Dr. Julio Hernandez-Castro, University of Kent School of Computing professor, said in a statement. "This would encourage them to continue with this form of cybercrime, potentially prompting other criminal gangs to jump into an extremely profitable cybercrime market."
Cryptolocker is extremely tricky because a malware scan will remove the malware, but the encrypted files stay encrypted until the countdown ends.