Lower Ransomware Risk with Data Security

Blog

Ransomware attacks continue to generate millions for cybercriminals, making this malware method one of the most popular cyberattack vectors.

Apr 25, 2023

Cybersecurity

Ransomware attacks continue to generate millions for cybercriminals, making this malware method one of the most popular cyberattack vectors. In fact, a recent insurance industry study (Ransomware Intelligence Global Report 2023) draws these worrisome conclusions:

Ransomware attacks are the leading cause of cyberinsurance claims, a trend analysts expect to continue rising.
Ransomware techniques are growing increasingly sophisticated and more adept at encrypting business data and avoiding detection.
Small to medium-size businesses (SMBs) are particularly vulnerable to ransomware incursions because typically they lack the staff, budget and expertise to thwart threats on a consistent basis.

The combination of these three factors leads to many SMBs opting to pay ransoms to free their data, rather than pay escalating cyberinsurance premiums. But there is an alternative for mitigating this security risk: Investing in a comprehensive data backup and disaster recovery (BUDR) program, supported by an IT managed services provider (MSP).

A top-tier MSP can help keep your firm’s data safe, intact and recoverable with business-grade options such as:

Maintaining a regular local image backup of operating systems, applications and databases
Generating and storing an offsite backup daily as protection against failures
Sustaining a hybrid configuration of local and offsite backups that enable rapid restoration in the wake of a cyberdisaster like a ransomware breach

We have experience in data backup and disaster recovery accumulated from assisting clients across an array of industries. Let us help you achieve greater peace of mind by reviewing your policies and procedures.