Ransomware prevention and remediation

Ransomware is big business for nation-state actors and cybercriminal organizations alike, accounting for 27% of all malware-related security incidents. Consider these troubling statistics:

• There will be a ransomware attack on businesses every 11 seconds by the end of 2021. Every 40 seconds, one of those attacks will prove successful.
• 62% of the organizations responding to a 2020 Cyberthreat Defense Report said they had been victimized by ransomware. 58% of those firms opted to pay the ransom, an increase of 13% over the year before.
• The global damage costs of ransomware are projected to reach $20 billion in 20217, a 300% increase since the $5 billion forecast for 2017. This includes not only ransom payouts, but also costs for recovery and remediation, lost productivity, reputational harm, and more.

 Despite the known risks, many organizations remain poorly prepared for a ransomware attack or its aftermath. Here’s how not to be one of them!