Ransomware and SMBs: How Much Does Downtime Cost?
The figure is alarming. According to Datto’s latest global report entitled “Global State of the Channel Ransomware“, small and medium-sized businesses would be the preferred target of ransomware attacks. But let’s go step by step. First of all, what is a ransomware attack?
It is a class of malware that makes the data of infected computers inaccessible but demands a ransom payment to restore it. Technically, they are cryptographic trojan horses that have the sole purpose of extorting money, through a “file seizure”, through encryption that, in practice, makes the PC unusable.
Thus, instead of the classic background, a notice will appear that seems to come from law enforcement and proposes an offer. In exchange for a password that can unlock all the contents, he demands that you pay a fairly large sum of money. Usually the currency used is bitcoin.
We said that Ransomware attacks mainly affect SMEs, causing serious economic damage. What? The cost of the service interruption would be 23 times higher than the ransom request , so much so that in 2019 it generated a 200% increase in costs compared to last year.
What are the main findings of the report? Let’s go and see them together. First of all, the cost of ransomware is huge, estimated at an average of about $141,000 for the down time. That’s an increase of more than 200% when you consider that last year’s average outage time would be $46,800.
Then you have to consider that ransomware is increasingly pervasive. 85% of MSPs report attacks against SMBs in the last two years (including 56% in the first half of 2019 alone), up from 79% reported in 2018.
Finally, there is the discrepancy with respect to the perception of ransomware as a threat. 89% of MSPs say ransomware should put SMBs on high alert. However, only 28% of MSPs say there is awareness and concern on the part of SMBs.
In these times, therefore, prevention is better than cure. If downtime is likely to put companies in serious difficulty , it is good for each company to know how to prevent in order to limit the damage coming from a possible attack as much as possible.
Business continuity and disaster recovery
solutions may still be the most effective in reducing the impact of a ransomware attack. In fact, according to the study, 95% of managed service providers (MSPs) say that their customers with such solutions in place would be less likely to experience detrimental downtime to their business in the event of an attack.
Not only that, according to the statements of the managed service providers, all customers equipped with “defense” systems would have resumed their activity in just 24 hours. Moral of the story: if it is not possible to wage a war on equal terms against phenomena that are potentially destructive to the company, it is better to arm yourself to the teeth and start fighting.
