Securing your business against Ransomware in 2017

By Anita Jaynes on 28 December, 2016

Faringdon based CIS tells us how…

With data security gaining huge press in 2016, its importance is only going to increase in 2017. As a business you need to act now and take responsibility for securing your data today.

The truth about Ransomware
A security company, Malwarebytes, recently published a series of eye-opening statistics that show just how businesses around the world have been affected by ransomware.

54% of UK companies were hit by Ransomware
According to Malwarebytes, the UK had experienced the most ransomware attacks from those that were surveyed. Although, more businesses within the financial sector were included which could have skewed the results. This could also mean that the financial sector is one of the most targeted industries.

63% experienced severe downtime
There is no getting around this. Ransomware disrupts. Of that 63% of businesses that experienced downtime, it was found that it took more than one business day to recover.

34% of businesses experienced loss of revenue due to Ransomware
It was reported globally that 34% of ransomware attacks caused businesses a loss in revenue, due to the inability to access encrypted files.

3.5% fear loss of life
A difficult statistic to comprehend but 3.5% of businesses said lives were at stake because of the effects of ransomware.

The truth about downtime costs
Let’s take 50 employees in a business that’s experienced downtime for 8 hours. Let’s say their productivity is reduced by 75% with each of them earning an average of £20 per hour. That’s 50 x 0.75 x 8 x 20 = £6000 in downtime costs a day, plus a loss in revenue, damage to reputation, penalties and fines.

Why you’re not taking safety measures
You’re a business owner that needs to ensure your business is constantly growing whilst maintaining your business costs efficiently. If you don’t truly understand or, if you haven’t experienced business downtime then it can be difficult to justify the costs of a solution when you can’t appreciate its value.

Put yourself in your clients’ shoes. How would they act if you lost their data through not having safety measures in place? Would they stay with you? Would they share their experiences?

What to expect for 2017- More cyber-attacks
Unfortunately, ransomware and other forms of malware are here to stay. Why? Because they generate a great amount of revenue for criminals.

GDPR preparation
The General Data Protection Regulation deadline is May 2018. The time to start planning is now, ensuring you’re compliant for when the GDPR comes into place. Contact us to see when our next free seminar is to learn more.

In summary
Seek advice from an expert – ensure you have secure and reliable business recovery systems in place.
Protect your data – treat your data like you would your money, don’t leave it out in the open.
Take responsibility – your clients trust you with their data so make sure they don’t have any reason to think it isn’t secure.

W: www.cisltd.com

T: 01367 700555