How much is your data worth to your organization?

How much is your data worth to your organization?

MD Technology Services, LLC is pleased to present excerpts from the 2016 datto Ransomware Report. A very wise Data Center Manager once said, & then said again… You’re only as good as your last backup! We have partnered with datto to provide excellent backup & recovery options.

2016 datto Ransomware Report

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INTRODUCTION If you Google “ransomware”, the cyber attack in which hackers commandeer a company’s data until a ransom is paid, the resulting headlines and statistics will all point to the same conclusion: the malware has become the most prominent, global threat to business cybersecurity today.

As data is the nucleus of today’s businesses, ransomware has the potential to take out even the most stable businesses in a matter of minutes. While a growing number of companies are leveraging the recommended solutions for protection, such as backup and disaster recovery technologies and anti-virus software, many are not. The latter group includes a large number of small businesses who typically operate without a dedicated in-house IT expert and from antiquated systems. These businesses rely just as heavily on data as bigger organizations, yet they often operate without the proper data protections in place to defend against, prepare for, and recover from ransomware.

Today’s cyber criminals, well aware of this vulnerability, are taking advantage and making billions. Yes, billions! Downtime from ransomware costs small businesses around $8,500 an hour.1 In the US, this adds up to a loss of $75B+ per year. That’s more than the combined GDP of Jamaica, Belize, Iceland, Cambodia and Nepal. That’s more than the cost of buying the world a Coke ten times. And, since these criminals continue to operate with zero consequences, it’s likely these crimes will get worse before they get better.

According to the Federal Bureau of Investigation’s Internet Crime Complaint Center, there are nearly 2,500 complaints registered in 2015 representing $1.6M+ in damages. But the true numbers are far higher, as less than 1 in 4 incidents are actually reported.