What is Ransomware?
Let’s get this straight. Ransomware is NOT Malware, and it is NOT Ransom. Instead, Ransomware is a type of malicious software designed to deny access to a computer system or data until a ransom is paid. Typically, Ransomware is spread through phishing emails or by unknowingly visiting an infected website.
Recently, a survey was conducted with 2400+ IT professionals who deal with ransomware attacks everyday. Here’s what we learnt:
#1: Ransomware attacks continue to climb
#2: 79% attacks against SMBs
From Q2 2016 to Q2 2018, 79% of Managed Service Providers (MSPs) report ransomware attacks against Small and Medium-sized Businesses (SMBs).
#3: 55% attacks against clients
In the first half of 2018 alone, 55% reported attacks against clients.
#4: 35% suffer multiple attacks daily
35% of MSPs report that their clients suffered multiple attacks in the same day. This number is up from 26% year-over-year.
#5: 1 in 4 attacks are reported
However, we are likely only seeing the tip of the iceberg. IT pros report that only 1 in 4 of those attacks are reported to authorities, which means the problem is likely bigger than we know.
#6: Birth of new ransomware happens everyday
#7: Apple Users aren’t safe anymore
An Apple operating system isn’t a silver bullet. In the first half of 2018, the number of IT professionals reporting OS/ iOS attacks is up by nearly 500% year-over-year.
#8: The Cloud is NOT immune
Of the IT pros that report cloud-based malware infections, nearly 50% called out Office 365 as the target.
#9: Ransomware affects business productivity
67% report that victimized clients experienced a loss of business productivity.
#10: Ransomware causes downtime
More than half also witnessed business-threatening downtime.
#11: Ransom is $$$
The average amount of ransom requested is roughly $4,300. But downtime cuts the deepest cost…
#12: Downtime is even more $$$$
The average cost of downtime from a single attack rings in at an estimated $46,800!! That’s right. The cost of downtime can be 10x higher than the ransom requested.
#13: Cybersecurity training is lacking
Today’s IT professionals are calling out the lack of cybersecurity training across businesses worldwide.
How to combat Ransomware?
Securing your company’s data are the highest priority for your system. Whether you are running on Windows or other operating systems, desktop, laptop or even on a mobile device, you are susceptible to ransomware attacks.
Learning how to combat ransomware is a must for everyone!
Therefore, as a solution, it is important to follow these 6 simple steps in securing your company’s data:
- Make a regular clean copy of backup, in other disk and in cloud storage
- Make sure your operating system is regularly patched and updated
- Include all your running application in the computer on your software update
- Always be vigilant on any suspicious files sent to you
- Utilize a mail filtering is a great advantage on how to combat ransomware
- Make sure to subscribe for a trusted brand of security software for your protection
Want to subscribe to a trusted security software for your company’s protection? Click the green button below to find out more!
eVantage Technology is a professional and trusted IT solutions provider, dedicated to providing exceptional service to companies in Singapore and across Asia.