Tuesday, 17 October 2017

Ransomware - the biggest threat to your business data and continuity. It has been estimated that in 2016 40% of all spam email included ransomware with an increase of 6,000% in ransomware activity (Taylor 2016). Ransomware is malevolent software (malware) that is mostly transmitted by email and activated by a user clicking a link or opening a particular attachment. When executed the malware silently and automatically encrypts a portion (or all) of your vital business data (dependent on the ransomware variant)—some ransomware can even traverse network shares to encrypt business data on a server or Network Attached Storage (NAS) device.

Once your important files including spreadsheets, word document, PDFs, images, and databases, for example, are encrypted, the data is effectively scrambled and inaccessible which can stop a business operating very quickly. This is where the ransom component comes in as the business can unscramble or decrypt their data by typically paying between $500 to $2,000 USD (Datto.com 2016) – however, there is no guarantee you will be able to access your data after paying the ransom. With up to 91% of IT service providers reporting ransomware infections of their clients (Datto.com), it is essential for every business of any size to take proper, preventative measures to protect their critical business data and continuity.

A ransomware malware incident can effectively take your business offline typically for 1-2 days if recent backups are available, not to mention the associated downtime costs in lost productivity and sales, and IT support. At UltraBIT we have years’ experience both recovering from ransomware malware incidents and implementing effective preventative systems including our online backup service and supplying industrial-grade antivirus systems. Ransomware is a pervasive, constantly evolving and real threat to your business and should not be taken lightly. Feel free to contact us to get advice and support on how to best protect your business.

Datto.com. (2017). American Small Businesses Lose an Estimated $75 Billion a Year to Ransomware, New Datto Survey Finds. [online] Available at: https://www.cnbc.com/2016/12/13/ransomware-spiked-6000-in-2016-and-most-victims-paid-the-hackers-ibm-finds.html [Accessed 17 Oct. 2017]. Taylor, H. (2016). Ransomware spiked 6,000% in 2016 and most victims paid the hackers, IBM finds. [online] CNBC. Available at: https://www.cnbc.com/2016/12/13/ransomware-spiked-6000-in-2016-and-most-victims-paid-the-hackers-ibm-finds.html [Accessed 17 Oct. 2017].

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