South African companies that are hacked pay an average of R5.01 million in ransom

South African companies are being forced to pay an average of R5.01 million in ransom to hackers who breach their systems, according to a recent survey of 135 organisations. The median ransom payment is significantly lower than the average demand of R7 million, suggesting that some companies are successfully negotiating with attackers. The high cost of recovering from a ransomware attack, excluding ransom payments, further highlights the devastating financial impact of these cybercrimes on the country's businesses.