Ransomware is a serious threat
If your data is important to your company, you are automatically at risk.
What is Ransomware?
Ransomware is a malicious computer virus that uses encryption to hold user data hostage in an effort to extort users. In most cases, perpetrators make it seem like paying the ransom in exchange for a decryption key is the only method of saving your files. What they don’t want you to know is that there is another method: backup restoration. A ransomware infection typically starts from a single computer and spreads through the entire network by infecting shared drives, databases and even local backups. However, if your data is backed up properly, you can restore your files in case of an emergency and save your files (and wallet) from further destruction.
Who Ransomware Affects?
Cybercriminals are in this business for the money. Extortionists have narrowed cybercrime down to a science and know exactly who’s willing to pay up in exchange for their data. While individuals are still at risk, ransomware crimes are now mostly geared towards businesses and organizations who can’t function without their data. Healthcare, manufacturing, service and financial industries are at the top of the attack list.
What Ransomware Means to SMBs
If your data is important to your company, you are automatically at risk for a cyberattack. Cybercrime has become a lucrative business for these perpetrators and the average ransom has gone up drastically; unfortunately, they know your data is irreplaceable and businesses are far more likely to pay up in exchange for a decryption key. For SMBs, downtime can cost hundreds and thousands of dollars on top of what you may already have to pay to regain control of your files. 60% of SMBs that suffer a cyber attack will most likely be forced to shut down within six months of the attack because of data loss and financial strain. Now that even local backups are being infected, having the proper backup solution in place is crucial to keeping your business alive and thriving. Proper backups are the most important layer of protection against cyber breaches and backup restoration may be your only form of resilience in this cyberwar.
Ransomware by numbers
47% of businesses have been victims of ransomware. (Barracuda)
SMBs are hit by 62% of cyberattacks; that’s up to 4,000 per day. (IBM)
60% of SMBs that suffer a cyber attack will most likely be forced to shut down within six months.
67% of businesses that were hit with ransomware permanently lost part or all of their corporate data.(CSOONLINE)
There were 171,802,109 malicious attacks in Q3 of 2016. (SECURELIST)
The FBI estimated that in Q1 of 2016 alone, $209 million was lost to ransomware.
Every 40 seconds, a company is hit with ransomware. This is up from every 2 minutes in Q1 of 2016. (BARKLY)
There were 199,382 mobile ransomware attacks through Q3 of 2016. (SECURELIST)
The average ransomware demand has increased from $294 in 2015 to $1,077 in 2016. (SYMANTEC)
Nearly ¾ of businesses targeted by ransomware don’t have proper security measures in place to avoid infection. (BARKLY)
1 in 5 SMBs paid the ransom and never got their data back. (Kaspersky)
In Q2 of 2016, 7 out of 10 malicious email attachments delivered Locky ransomware. (Proofpoint)
References and More information