Worried about Ransomware? Focus on Data Backup

Worried about Ransomware? Focus on Data Backup

The news about ransomware continues to get worse. According to Trend Micro, 79 new types of ransomware emerged during the first half of 2016, representing a 172 percent increase over the whole of last year. There have been more than 4,000 ransomware attacks per day since Jan. 1st, a 300 percent increase since 2015.

A SANS Institute survey found that ransomware has become the No. 1 security threat in the financial services sector, edging out phishing. Nearly one-third of financial services firms say they’ve fallen victim to ransomware attacks that cost them between $100,000 and $500,000.

Of course, the financial services sector isn’t the only target of ransomware attacks. Hospitals and other healthcare organizations, state and local government agencies, schools, retailers, and many other organizations have fallen victim. About two-thirds wind up paying the ransom, which averages about $722. On the one hand, the cost is relatively low compared to the value of data lost in the attack. However, cybercriminals often demand more and more money, and about 20 percent of those who pay never regain access to their files.

Inside a Ransomware Attack

Ransomware is a form of malware that uses strong encryption to “lock” all of the files on the victim’s PC and any connected systems or network drives. Unless detected and stopped, it can spread rapidly throughout an organization, rendering all data useless.

Once all the files are encrypted, a ransom note is displayed demanding the payment of a fee to obtain the decryption key needed to unlock the files. The only hope for recovering the files without paying the ransom is to restore from a backup that hasn’t been infected.

The best way to avoid a ransomware attack is through vigilance — the malware is often spread through phishing emails with malicious links and attachments. Employees should be advised of the risk and warned not to click on anything if they’re not sure of the source. It’s also important to keep your PCs and servers patched, your antimalware software up-to-date, and your systems and file shares configured in a way that minimizes the potential damage.

However, none of those efforts is going to be completely effective. Odds are high that you’ll be hit with a ransomware attack, and your best protection is a cloud backup solution.

Why Cloud Backup Matters

If you’re backing up locally to disk or tape, your backup could also become infected with the malware. Backing up to the cloud reduces that risk. Leading cloud backup services incorporate strong security and use file versioning and other techniques to protect your data from ransomware.

Of course, cloud backup is more than just a hedge against ransomware. It also helps ensure that your data can be recovered in any kind of disaster. You can even replicate all of your applications and services so that you can be up and running quickly in the event of a disruption. We talked about that in a previous post.

If you’re concerned about ransomware — and you should be — a robust cloud backup solution should be on your IT priority list. Contact Verteks for help in protecting your valuable data.


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