Ransomware is one of today’s fastest growing cyber threats, with stories of businesses paying unbelievable ransoms hitting the news seemingly every week, but with the right backup solution your business could be actively fighting against this threat before it even hits you.
Recent studies have found that about 50% of organisations were attacked by ransomware in 2019, and in almost 75% of cases the attackers were able to encrypt the data. In cases like this, backup can be the only way for organisations to retrieve their valuable business data without forking out ransom payments.
Ransomware On The Rise
Cyber attacks in general have spiked significantly since the beginning of the COVID-19 pandemic, with criminals across the globe taking full advantage of this distraction as businesses placed all of their efforts into accommodating remote workers, and ransomware is no exception to this trend.
Unfortunately, the increased volume of ransomware attacks isn't all companies have to worry about, as ransom costs have been steadily growing too. According to researchers, the average cost for companies to recover from a ransomware attack has doubled over the last year - and most of those who paid the ransom didn't even receive all of their data back.
Recent Ransomware examples:
- Hackney Council
The London Borough council were hit by a ransomware attack last October, and are still struggling to recover over 6 months later. The council has revealed that the attack targeted older, on-premise servers and systems that had not yet been migrated to the cloud, but they have since heavily invested in new technology to improve their security for the future.
- Northern Rail
Hundreds of self-service ticket machines were left offline after a suspected ransomware attack, coming just 2 months after the company invested £17m into installing over 600 of the touch screen units.
A ransomware attack on the Miami-based tech firm Kaseya has affected up to 1,500 businesses worldwide, potentially making it the biggest global ransomware attack on record as criminals demand a £70m pay-out.
The National Cyber Security Centre is currently investigating the impact on UK organisations.
Recovering From Ransomware with Backup
Due to the sophistication of today's threat landscape, ransomware can be quite difficult to catch right at the door, and with the rate that this threat is growing in volume, the question of if a business will be hit with an attack is quickly turning into when.
Having a sound backup and recovery plan is usually one of the most overlooked measures in the fight against ransomware, but it is the most crucial. Even with security solutions in place for common attack vectors like email and web applications, there is still a chance that an end user will become infected with ransomware and put your organization’s critical data at risk. Successful backups with an effective retention policy enables organizations to recover from ransomware attacks without having to pay any ransom to the attackers, or losing the data altogether. Regularly performing and testing backups will help limit the impact of data or system loss and expedite the recovery process.
Barracuda Backup lets you quickly recover files encrypted by ransomware.
Simply eliminate the malware, delete the bad files, and restore them from a recent
backup. Recovery can take as little as an hour—and the criminals go home empty-handed. Find out more about Barracuda Backup >