Odds are, your company is more likely than not to be targeted by cybercriminals, according to “The State of Endpoint Security Today,” an independent study of 2,700 mid-sized companies in 10 countries sponsored by Sophos. According to this study, 54 percent of organizations polled were victims of ransomware in 2017. For many of those businesses, the damage can be debilitating.
What are the costs of falling victim to ransomware? The monetary value of a ransomware attack goes beyond the amount paid in ransom paid by companies victimized. The overall cost includes factors such as downtime, work hours, and lost opportunities. All of this adds up to a median cost of nearly $133,000 per ransomware attack for businesses, according to the Sophos study.
Are you protected against ransomware? While there are ways to mitigate the likelihood of falling victim to ransomware, it’s impossible to completely eliminate the risk. Therefore, it’s essential for SMBs to employ the only surefire method of regaining access to your data: backup restoration. Is your company regularly backing up its data and records, in addition to ensuring the backed up files are quarantined and not connected to your network once updates are done to protect them from being encrypted as well? If not, your files are at risk of being compromised by ransomware.
