Ransomware: The Actual Cost Of An Outage

March 2nd, 2018
Ransomware: The Actual Cost Of An Outage

ransomware-post

This week's Technology Today is all about preventing data loss and the actual cost of an outage!

Why People Are Still Suffering From Ransomware Attacks

People tend to steer clear of that which will cost them money upfront, but may save them in the long run. Why? Immediate needs are taken care of, while those that have not yet blossomed into a need, take a backseat. Because of this, ransomware viruses are constantly wreaking havoc on vulnerable companies, susceptible to an attack. How can you avoid this devastating mistake? Make sure you have a Backup & Disaster Recovery system in place - whether you think you need one or not!

How Ransomware Works

If your company's infrastructure is compromised due to ransomware - once in your system, the virus encrypts all files to a secure key that is bestowed to the attackers. The cybercriminal(s) then demand a ransom to be paid in Bitcoin, in order to recover your data. Your business will not only be down until you pay the cybercriminal(s) the sum they are demanding, you can pay said sum and never receive the key necessary to decrypt OR they could send you a key that only decrypts a portion of the data that was taken. Leaving you unable to conduct business - causing data and time loss!

The Cost Of Downtime

Backup & Disaster Recovery will ensure more than just your data - it will save you time, which in turn saves money!

Let's play a little game -

  • Say your company employs 100 People with an average salary of $80K - making it $40 per employee, per hour. *
  • If your company's system crashes for 1 day, that's 8 hours, at $40 per hour X 100 employees. You will lose $32K in productivity, in addition to lost opportunities.
  • If your employees are unable to work for a full week, you will lose $160K ! That's a staggering statistic!

You Think This Will Never Happen To You? Think Again!

According to The Verge, Ransomware victims have paid more than $25 million in ransoms over the last two years, according to a study presented by researchers at Google, Chainalysis, UC San Diego and the NYU Tandon School of Engineering. By following those payments through the blockchain and comparing them against known samples, researchers were able to build a comprehensive picture of the ransomware ecosystem.'

Cyber crime isn't going anywhere, it's trending. There is actually an entire division within the FBI that focuses soley on activity of this nature. As ransomware gains popularity, the need for protection grows! Would you rather pay a small monthly fee, as part of your overall IT Infrastructure and Service to have peace of mind OR would you rather risk losing your company's priceless data AND potentially spend thousands to get it back and hundreds of thousands in down time? It's really a no brainer!

Thoughts

Was this blog helpful - will it make you take action, if you're not already protected? Sound off below.

Until next time, Techies!

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