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Nov 28, 2017

Industry insights,

One third of businesses would pay

Ransomware attacks are making the headlines weekly, and the likes of high profile strains such as WannaCry and NotPetya really have made their presence known.

Whilst the threat of these ransomware are very real, the latest security research to come from Computing Magazine, has claimed that over 30% of businesses are either ‘quite likely’ or ‘very likely’ to pay up following an attack of this nature. Not only is this fuelling the fire, as the more businesses are willing to simply reach for the bank account, the more persistent the cybercriminals will become. There is also still no guarantee that the hackers will release your data, and in many instances demand more money. It will also make you and your business a primary target for more attacks, as you become labelled as ‘a payer’, your details are shared through the network of cybercriminals and your business is then on a hit list of businesses the hackers know will pay up.

As a business strategy this is not sustainable, and simply doesn’t work as either an effective way in which to restore normal business operations, or to deter the onslaught of further ransomware attacks. Businesses and IT professionals have a responsibility to make sure they have the adequate security measures in place to prevent attacks like this, and make sure they have robust backup solutions, both on and off site. So that if the worst did happen, they would be in a position to restore their data without the need to even consider making payments on the dark web.

For now, ransomware is not going away. If anything it’s becoming more prolific and predatory, and businesses have to implement enhanced security with a robust disaster recovery plan to be able to cope with an event of this severity.