Backup & Disaster Recovery Planning: Your Best Defense Against Ransomware

Google the term…Ransomware.

Go ahead, take a minute.

Scary stuff, right?

Ransomware is the diabolical cyber-attack in which hackers pirate a company’s data until a ransom is paid. As data is the core of business operations, ransomware has the power to disrupt – perhaps permanently – even the most stable of businesses in the most vibrant or obscure markets. While a growing number of companies are leveraging the recommended solutions for protection, such as backup and disaster recovery technologies and anti-virus software, many are not.

Today’s cyber criminals are aware of this reality and are grateful for it. They are also grateful that many small businesses typically operate without a dedicated in-house IT expert and are working with antiquated, legacy systems. Today’s small businesses rely just as heavily on big data as bigger organizations, yet they tend to operate without the digital asset management and data protections in place to defend against ransomware.

Make no mistake, ransomware is fast becoming the most prominent, global threat to business cybersecurity the world has ever experienced.

Recently, Datto surveyed 1,100 MSPs about ransomware and cybersecurity. With survey findings gathered from 1,100 Managed Service Providers (MSPs) in the US, Canada, Australia, the UK and around the world, Datto’s report provides unique visibility into the current state of ransomware, direct from the professionals who are dealing with these malware infections daily.

What were key findings of the Datto survey?

• Small businesses are big targets: According to 97 percent of IT service providers, ransomware attacks on small businesses are becoming more frequent, a trend that will continue over the next two years.
• Attacks are growing: More than 91 percent report clients victimized by ransomware, 40 percent of whom have experienced 6 or more attacks in the last year. Around 31 percent of IT service providers have experienced multiple ransomware incidents in a single day.
• Phishing emails are still swimming strong! The leading cause of a ransomware infection is phishing email scam followed by a lack of employee awareness. The most common impact of a ransomware infection is business-threatening downtime followed by lost data and/or device.
• It doesn’t pay…to pay! Paying the ransom doesn’t guarantee the return of data; 7 percent of IT service providers report recent incidents of end users paying up to no avail. The average ransom requested is typically between $500 and $2,000, however 10 percent of MSPs reported the ransom average to be greater than $5,000.
• Watch your Windows: Windows is the most common system infected by ransomware followed by OS X. Ransomware is targeting cloud-based applications as seen by 35 percent of IT service providers, particularly Dropbox, Office 365 and Google Apps.
• Professional Services – watch your backups! The leading industries victimized by ransomware: Professional Services, Healthcare, and Construction and Manufacturing industries.

Ransomware attacks have become a common, growing occurrence for small businesses around the world. Businesses today must protect essential digital assets by enforcing a business continuity plan that includes cybersecurity training, as well as leading security solutions, including anti-virus software and email filters. The most effective means of protecting your business is a backup and disaster recovery solution.

CompuData can help! Contact CompuData today to connect with CompuData’s Managed IT Services team and take the first steps in developing a business continuity plan to protect your data!