Irish businesses that have paid ransoms to cybercriminals handed over an average of almost €23,000 each, according to a survey by  Typetec.

The survey was conducted in September 2021 and questioned 202 business owners with up to 150 employees.

The survey revealed that half the respondents have paid a ransom to a cybercriminal, and the average ransom paid was €22,700.

One in four of those who paid a ransom failed to have all affected data restored. And, as if to prove you can’t trust a cybercriminal, 60% reported that sensitive data was leaked on the dark web — despite paying the ransom.

A majority of the sample cohort stated that they keep a cryptocurrency reserve in case they need to pay a ransom.

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Typetec chief technology officer Trevor Coyle (pictured) said: “While we were aware of the growing trend that businesses are being forced to pay ransoms to cybercriminals, we are still alarmed by how widespread it is in Ireland.

“Paying out ransoms in response to cyberattacks does not guarantee a successful restoration of data or systems, and it also encourages future attacks.

“These threats are not going away. A clearly defined and well managed cybersecurity strategy, particularly in an increasingly hybrid working world, is an absolute necessity for businesses of all sizes,” said Coyle.