By: Jake Maali, ConvergeSecure® Engineer
The cost of Ransomware attacks across the country throughout the Second Quarter of 2019 have grown exponentially. Look at this statistic provided by one of the top Ransomware analytic companies in an analysis by Coveware.
“Coveware’s analysis of ransomware attacks from the second quarter of 2019 shows the malware causes an average of 9.6 days of downtime, with organizations losing about 8 percent of data”
Coveware’s data shows that not only does the cost of Ransomware increase, but so has the total system downtime of the organization. This results in a much more significant total loss for companies with network infrastructure vulnerabilities.
When looking at Ransomware, the cost can be calculated into 2 primary factors; recovery and downtime. It is no surprise that the recovery phase can take days due to the designated IT team’s necessity for reconnaissance and forensic skills to identify and block the source of the Ransomware.
The other leading cost for Ransomware is Downtime. Once an infection of ransomware occurs, nearly all the endpoints within the environment become infected and must be wiped and rebuilt. New forms of ransomware infect most or the entire environment which puts users and the organization at a complete standstill. This incurs a lengthy amount of downtime, which in return puts a heavy loss of profits on the organization. Try the downtime calculator on our BCDR page for a likely surprising estimate.
According to an article from Health ITSecurity The Department of Homeland Security released this statement about the patterns of Ransomware.
“Ransomware attack patterns are extremely common from case-to-case,” researchers wrote. “Attackers target the cheapest and easiest to exploit the vulnerability. The attack vectors vary by ransomware type as the personality, specialized expertise and victim profile can vary from group to group.”
It appears that a critical element for all Ransomware victims lies within a less secure environment. Organizations that do not utilize their firewall’s Unified threat management (UTM) capabilities such as; APP control, WEB filtering, Deep SSL Cert inspection, etc. More and more companies are pushing toward Professional IT consultation for vulnerability testing and enhanced multi-faceted security solutions. Prevention starts with security awareness training and unified threat management, and a good backup and recovery solution should be in place to ensure business continuity and the quickest possible recovery should the cybercriminals get through your defenses.
Still unsure about any of this?
Contact your CCC Technologies’ Representative or contact our 100% U.S. based Custome Care Team at 1.866.347.3780 and we’ll help determine how this applies to your business and what your best options are.