The COVID-19 pandemic has forced every business to rethink how they access and share data online. While the increase in remote work and cloud computing has allowed organizations to continue to operate in economic uncertainty, it has also opened the door to additional security risks.
Microsoft reports that COVID-19 themed attacks, where cybercriminals get access to a system through the use of phishing or social engineering attacks, have jumped to 20,000 to 30,000 a day in the U.S. alone. These numbers are alarming and a reminder to all businesses in the U.S. and around the world that data protection and business continuity should continue to be a priority.
Fueled by our passion for technology, our highly experienced IT team wants to ensure you are prepared and protected from unknown threats. We will be hosting a comprehensive webinar that will dive deeper into ransomware and provide access to experts to ask questions and get tips on reducing your risk and ensuring recovery and continuity. And all webinar attendees will receive a Grubhub gift card to cover the cost of your lunch!
Key Findings in Datto’s 2020 Ransomware Report
Malware is a blanket term for any malicious software intended to cause damage to a computer, server, client or computer network. It continues to plague small businesses and large enterprises, with 2020 being no exception. According to Datto’s Annual Global State of the Channel Ransomware Report, ransomware is still the number one malware threat.
Datto’s annual report includes statistics pulled from a survey of more than 1,000 managed service providers around the world. As a US-based cybersecurity and data backup company, their goal is to shed light on the current cybersecurity landscape businesses face and help them mitigate the risk that ransomware poses on their livelihood.
This year, the most susceptible industries to ransomware attacks due to COVID-19 were healthcare, finance/insurance, and government. Known for staging attacks on the most vulnerable victims, cybercriminals were able to get through defenses with phishing emails and by targeting Windows PCs, which made up 91% of the attacks reported.
The cost of business downtime was nearly 50 times greater than the average ransom requested by hackers in 2020. That means while the average ransom for SMBs was $5,600 per incident, the total cost of downtime was a staggering $274,200. Downtime is the inability of your business to function due to loss of network connectivity. During a ransomware attack, the malware is designed to encrypt all data files it can find on the machine and on any network that the computer shares access with. If you happen to be one of the many employees to click on a compromised ad or open a phishing email attachment, it doesn’t take long to cause damage. Downtime costs vary widely among businesses and depend on employee productivity, recovery costs, lost revenue, and long-term impact.
The report also goes into some of the most common ransomware recovery methods:
1. Restore a machine from a backup
2. Restore from files
3. Re-image from default
4. Virtualize the system from a backup image
5. Run software to cleanup threat
6. Pay ransom
It’s important to note that paying the ransom should no longer be a viable option anymore due to new U.S. government sanctions on facilitating ransomware payments. It is now illegal to be the party who distributes ransomware payments. You can read more about the advisory and the reasoning behind it in this blog post.
One of the most valuable points in this report is that today’s standard security solutions alone are no match for today’s ransomware. SMBs need multiple solutions to prevent ransomware attacks – but where do you start? We are ready to get you started and answer your questions about everything from employee training to anti-malware software to endpoint detection and response solutions.
Register for Tigunia’s State of Ransomware Webinar
A key takeaway from Datto’s 2020 report was that end-user education is an essential piece of an effective ransomware protection strategy. While phishing, poor user practices, and lack of end-user cybersecurity were the three most common causes of successful ransomware breaches this year, it’s critical that security training goes beyond identifying phishing attacks.
That’s why our talented in-house IT experts have decided to come together for a detailed “State of Ransomware” webinar that will include the most effective solutions to combat ransomware. We are going to cram as much valuable knowledge on ransomware prevention and business continuity that we can in 60 minutes.
In this webinar, we will discuss:
- Where your business is currently exposed to ransomware attacks
- What the most effective solutions to combat ransomware are (including industry-leading vendors and specific product recommendations)
- The importance of business continuity and disaster recovery (BCDR) planning in reducing downtime from ransomware
After this broader discussion, you will have a chance to book a complimentary 1:1 session with one of our Data Security Experts, designed to help you take what you’ve learned and transition it into an actionable plan for your business.
Tigunia’s State of Ransomware Webinar
January 20, 2021 @ 11:00am Central