Ransomware attacks are on the rise, and it’s only going to get worse.
According to Veeam’s 2023 Ransomware Trends Report, 85% of organizations suffered at least one ransomware attack in the past 12 months. That means more organizations will suffer a ransomware attacks this year than turn a profit.
The impact of an attack can be frustrating, scary and even embarrassing. But don’t worry, we’re here to help you safeguard your sensitive data with ultra-secure backup and recovery.
Here are some of the key takeaways from the report:
- Paying the ransom doesn’t work: Despite the temptation to pay the ransom, only 21% of organizations that paid got their data back. That’s like seeing an online product with a 1.5-star review. It’s just not worth it.
- Backups are your best defense: 80% of organizations that had backups were able to recover their data without paying the ransom. That level of success would put you in the Hall of Fame in any sport in the world.
- Recovery time matters: Organizations took an average of 3.4 weeks to recover from an attack. That’s enough time to fly from New York to Beijing seven times.
The impact of a ransomware attack can be devastating.
In addition to the cost of the ransom itself, there can be significant expenses associated with data recovery, system restoration, and lost productivity. Furthermore, the reputational damage that can result from an attack can be difficult to overcome.
One of the most significant impacts of a ransomware attack is the disruption it can cause to business operations. When critical data is encrypted and unavailable, employees may be unable to perform their jobs, resulting in lost productivity and revenue. Additionally, the time and resources required to recover from an attack can be substantial, diverting valuable resources away from other important business activities.
Another impact of ransomware attacks is the loss or theft of sensitive data. In some cases, attackers may steal data before encrypting it, and threaten to release it publicly if the ransom is not paid. Even if the ransom is paid, there is no guarantee that the attackers will not release the stolen data anyway. This can be particularly damaging for businesses that handle sensitive customer information, such as credit card numbers or personal health information.
Even if the ransom is paid, there is no guarantee that the attackers will not release the stolen data anyway. This can be particularly damaging for businesses that handle sensitive customer information, such as credit card numbers or personal health information.