Ransomware attacks are becoming increasingly costly for businesses, with a new study shedding light on just how damaging they can be. According to research from Sophos, a staggering 94% of organisations hit by ransomware in 2023 reported attempts by cybercriminals to compromise their backups. This alarming trend poses a significant threat to businesses, as compromised backups can lead to a doubling of ransom demands and payments compared to incidents where backups remain secure.
The impact is particularly severe for certain sectors, such as state and local government, the media, and the leisure and entertainment industry, where 99% of attacks attempted to compromise backups. Perhaps most concerning is the revelation that overall recovery costs can skyrocket when backups are compromised, with organisations facing recovery costs up to eight times higher than those whose backups remain unaffected.
To mitigate the risk of falling victim to ransomware attacks, businesses are urged to take proactive measures. First and foremost, it's essential to backup data frequently and store backups securely in a separate physical location, such as the cloud, to prevent them from being compromised alongside the main systems. Regularly testing the restoration process is also crucial to ensure backups are functional in the event of an attack.
Furthermore, securing backups with robust encryption and implementing layered defences to prevent unauthorised access is essential for ransomware defence. Vigilance against suspicious activity that could signal attackers attempting to access backups is also recommended.
While it's tempting to believe that your organisation won't be targeted by ransomware, the reality is that it's not a matter of if, but when. Therefore, taking proactive steps to secure backups and prepare for potential attacks is imperative for businesses of all sizes.
For businesses seeking additional guidance on ransomware remediation, you can follow this step-by-step guide in order to navigate the recovery process. This Ransomware Defender solution aims to minimise the impact of data breaches and ensure business continuity by storing backups in a highly secure environment isolated from the main infrastructure.
The threat of ransomware attacks targeting backups is real and growing, with significant implications for businesses' financial, operational, and reputational security. By implementing robust backup strategies and proactive defence measures, organisations can better protect themselves against the rising tide of ransomware attacks.
