The Rise of Ransomware Attacks During the Pandemic
With the pandemic forcing many businesses to quickly adapt to remote working and COVID-19 becoming a global problem, 2020 proved that cybercriminals will take advantage of businesses and individuals, no matter the circumstances. In the early months of the pandemic, the FBI reported that they had seen a 300 to 400 percent increase in cybercrime complaints, with criminals taking advantage of the pandemic to set up fraudulent COVID charities or to promise the delivery of masks and other healthcare equipment. Due to the increase in remote working, employees also understand that they are more vulnerable to attacks. In the UK, 21 percent of workers feel more vulnerable to cybercrime since the COVID-19 pandemic began.
Of all types of cybercrime, ransomware attacks are proving to be the most common and most dangerous attacks, due to their relative ease of execution. Using increasingly sophisticated malware, social engineering, cryptography, and payment technologies, hackers install bad software on systems. This locks up the businesses’ file system and renders data unusable. In order to regain access to this data, companies must pay a high ransom. Unfortunately, this doesn’t guarantee access. Many victims may get their data back, but it may not be complete or undamaged. And 17 percent of businesses who pay the ransom don’t get their data back, at all.
If there ever was a time to invest in technology to protect your business against ransomware, it’s now. A recent study showed that in 2021, a business will be attacked by ransomware every 11 seconds, up from 14 seconds in 2020. And unfortunately, North America receives the majority of these attacks, with 69 percent of businesses reporting being affected by ransomware.
There are many different options available to protect your business, but every business has different requirements for what they need. Depending on their IT environment, they may have specific requirements for data protection monitoring and dashboarding. Many industries with access to extremely valuable and private information—such as financial institutes, healthcare and governments—typically rely on secure mainframe environments. But these are also the industries that are most at-risk. Along with training their personnel, they need ransomware monitoring solutions to integrate with their existing IT systems. With over 30 years in the mainframe space, Rocket has scalable solutions to meet the needs of these industries. We even have a specific solution to help businesses in their journey to prevent ransomware attacks.
Rocket®️ Servergraph is our critical data monitoring solution. Providing continuous monitoring of hardware and software, including the ability to integrate with multiple vendors, and the ability to configure any dashboard needed by your business, it’s easy to understand what’s happening across in your backup environment.
With the cost of ransomware attacks to businesses expected to reach $20 billion in 2021, businesses need to proactively prepare to protect their important data. Servergraph provides a real-time, comprehensive view that helps IT staff better manage data protection processes, cost and risks. IT leaders can rest assured that they’re as ready as possible for ransomware attacks.
If you’re interested in learning more about how to protect valuable data from ransomware attacks, contact us today.