Cyber security company Radware has released its 2018 Executive Application and Network Security Report, and for the first time in the survey’s five-year history a majority of executives reported paying a hacker’s ransom following a cyber attack.  

Merrill Research surveyed 232 executives worldwide on behalf of Radware, and 69 percent said their company faced a ransom attack in the past year, compared with only 14 percent in 2016. Of those, 53 percent paid the ransom.  

Two-thirds of executives (66 percent) reported a lack of confidence in their network security, admitting that their networks are penetrable by hackers.