July is Ransomware Awareness Month
Ransomware has quickly become the worlds most dangerous security threat. It used to be that viruses came from illegally pirating a movie or responding to an email from a Nigerian prince, while this is still the case malware has evolved to become much more sinister. Ransomware has been responsible for some of the biggest disruptions to critical infrastructure over the past year (think Colonial Pipeline) which is why July is now Ransomware Awareness Month.
Below are statistics that your organization needs to be aware of if you hope to secure your business from bad actors:
The global cost of ransomware is predicted to reach $42 billion by 2024
Ransomware is an extremely lucrative business for these bad actors. Through exploiting your organization these ransomware gangs are able to drain your businesses finance by holding your data hostage. Unfortunately, ransomware has become a global threat and promises to expand in the following years. Make sure your data isn’t up for auction and secure your organization today! Source: Knowbe4
34% of businesses reported experiencing a ransomware attack
According to a survey conducted by ransomware.org roughly 34% of organizations surveyed reported experiencing a ransomware event. This number will only rise as ransomware attacks become more and more common. It isn’t a matter of “if” your organization will be targeted, but “when”. Make sure your business doesn’t become another statistic. Source: Ransomware.org
Ransomware rose 13% in 2021
According to Verizon’s Data Breach Investigation Report for 2021, ransomware rose an alarming 13% in 2021. While this number may seem low it represents an increase as big as the last five years combined! Not only can ransomware bring an entire organization to a screeching halt, but it is only becoming more commonplace. Source: Verizon
A ransomware attack occurs every 11 seconds in 2021
This length of time has shortened exponentially over the past few years, but in 2021 a business was hit every 11 seconds by a ransomware attack. This number doesn’t even include individual cases of ransomware. With this increase in volume of attacks cyber security is no longer a suggestion for organizations, but rather a necessity. Source: Cybercrime Magazine
55% of small businesses pay the ransom
Over half of small businesses end up paying the ransomware gangs holding their data hostage. This could be because they haven’t bolstered their security posture or implemented a functional backups system. Either way most small businesses aren’t in the position to be paying exorbitant amounts of money to get their business operational again. What’s even worse is that there is no real guarantee that these hackers will give you your data back once you’ve payed up. Having to pay a ransom like this could be deadly for your organization – financial, reputation, clients and more. Source: Knowbe4
Even though July is ransomware month your organization must be committed to security year round. Contact CorpInfoTech today if you believe your organization is at risk of a cyber attack! Prevent the risk today.
CorpInfoTech (Corporate Information Technologies) provides small to mid-market organizations with expert I.T. services including compliance assessment, cybersecurity penetration tests, and comprehensive business continuity planning services. CorpInfoTech can help organizations, quantify, create, refine, and mitigate the risks presented by business threatening disasters in whatever form they may be disguised.
This website is for informational and educational purposes only and does not render professional advice nor is it a substitute for dedicated professional guidance from a competent and duly accredited cybersecurity professional specific to your needs and implementation. There is no endorsement of any kind for products or services listed on this website; it is entirely the readers responsibility to conduct appropriate due diligence and due care in selecting and engaging with any product or service.
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