Ransomware Attacks Surged Globally in the Third Quarter

November 02, 2020

Ransomware Attacks Surged Globally in the Third Quarter

By Courtney Heinbach

According to numerous reports, ransomware attacks rose around the world in the third quarter of 2020. Cybersecurity firm SonicWall found that while overall malware volume declined, ransomware attacks jumped 40 percent, reaching 199.7 million attacks. Check Point, a cybersecurity solutions provider, saw a 50 percent increase in the daily average ransomware attacks compared to the first half of 2020. Check Point attributes this to gaps in IT systems created by rapid changes in business structures due to the COVID-19 pandemic.

Managed service providers (MSPs) are poised to help businesses face the rise in ransomware head-on. As an advisor for small and medium businesses in all-things IT, you know the risk will only continue. A comprehensive approach to fighting ransomware attacks includes:

  • An internal look at your own security posture. MSPs have been increasingly targeted by bad actors, so it’s crucial to ensure that your systems are properly secured with multi-factor authentication on servers and workstations, endpoints and email services are hardened, and staff is prepared. Get the tools needed to audit your security posture in our Information Security Analysis Toolkit.
  • Educate your clients. Tools and technology are crucial in the fight against ransomware, but it’s important to start at the source of many successful attacks: Humans. The better prepared your clients are for an attack—knowing what an attack looks like, how to identify it, and how to respond—the more likely your clients will be safe.
  • Equip your clients with a comprehensive ransomware protection plan. Business continuity and disaster recovery (BCDR) is a key component here, providing the ability for you to virtualise clients’ servers locally or in the cloud if they’re hit with an attack. Bonus points if your BCDR tool includes ransomware detection. With BCDR, your clients are able to continue business operations and minimise downtime. Ransomware can spread to SaaS applications like Microsoft 365 and Google Workspace. If your clients rely on these apps, a SaaS backup solution should also be considered essential. Finally, web monitoring, email filtering, and of course, antivirus tools are a must.

Ensure your clients are aware of the risk they face with ransomware attacks and follow the steps above, and you’ll be well-suited to protect them against a potential attack.

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