Ransomware attacks are quickly becoming more advanced, and more expensive for businesses, with the average cost of an attack increasing from $133,000 in 2017 to an estimated $11.5 billion by 2019. The advancements made are clear to see through the long list of notable ransomware variants over the past few years, including CryptoLocker, WannaCry, Petya & Locky - all of which use different methods to bypass security systems and compromise the victim's network.
There are many precautionary steps that can be taken to try to prevent ransomware attacks, but for the most effective approach, your security strategy should be made up of three sections; education, security, and backup. Preventing email-borne attacks through staff training and email security is something we have discussed in multiple blog posts (e.g. Cyber Security Risks that are Jeopardising Your Business), but the step that most users seem to overlook is implementing a sound backup and recovery plan.
Why Backup for Ransomware
As mentioned, Ransomware can come in different variations, with different delivery methods and software, but what all forms of Ransomware have in common is that, once they have access to your network, they will make your data inaccessible until a hefty payment has been made. Most variants will achieve this through file encryption, but some can even lock the user's whole device.
Not only can this cost businesses hundreds of thousands, but there is always the added risk that the attacker may not even grant you access once the payment has gone through. Education and email security are essential security layers for preventing these kinds of threats before entering your network, but to ensure your data will be protected if malicious software ever slips through the cracks, backup is just as important.
Successful backups with an effective retention policy enables organisations 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.
White Paper: Backup for Office 365
Barracuda Backup delivers fast backups and data restores - utilising the cloud so you can be up and running again in minutes. In the event of a ransomware attack or other disaster — from a natural disaster to accidental deletion — Barracuda Backup gives you the ultimate protection against compromised, corrupted, lost, deleted, or encrypted data.
On top of fast backup and recovery time, our backup solution offers enhanced offsite replication to close the window of vulnerability to a disaster that might take out your onsite backup. Also, with its efficient inline deduplication engine, Barracuda Backup is capable of storing more data for longer periods of time - an effective retention policy is key to recovering from a malware attack.
For more information on the backup solutions offered by Altinet, visit our website.