Ransomware is a type of cyberattack that involves hackers holding a company’s data hostage until a ransom is paid. According to a report from cybersecurity firm Symantec, ransomware attacks increased by 36% in 2020.

One of the reasons for the increase in ransomware attacks is the growing use of cloud-based storage. A survey by Barracuda Networks found that 47% of businesses experienced a ransomware attack on their cloud storage in 2020.

In addition to the financial cost of paying the ransom, ransomware attacks can also have a significant impact on a company’s operations. A study by the Ponemon Institute found that the average downtime caused by a ransomware attack was 16.2 days. This can lead to lost productivity and revenue, as well as damage to the company’s reputation.

To protect against ransomware attacks, it is important to implement strong security measures and regularly backup data. This can help ensure that you have access to a copy of your data in the event of an attack.

Practical tips:

• Use antivirus software: Install antivirus software on all of your devices to help protect against malware and ransomware.
• Regularly backup data: Create regular backups of your data to ensure that you have access to a copy in the event of an attack. Run disaster recovery exercices, or study the opportunity to use automated recovery as a service tools.
• Implement strong security measures: Use strong passwords and regularly update your security protocols to help prevent ransomware attacks. Be proactive in hunting threats, leveraging expertise from consultants and advanced tools.