A Look at the State of Ransomware in Australia and New Zealand

Jan 22, 2020

A Look at the State of Ransomware in Australia and New Zealand

BY Chris Brunau

Ransomware

Recently, we surveyed nearly 200 managed service providers (MSPs) across Australia and New Zealand to get a better understanding of the current state of ransomware in the channel.

The 2019 report provides unique visibility into the state of ransomware from the perspective of the IT Channel and their small-and-medium-sized business (SMB) clients who are dealing with these infections on a daily basis. The report provides a wealth of detail on ransomware, including year-over-year trends, frequency, targets, impact, and recommendations for ensuring recovery and continuity in the face of the growing threat.

Let’s take a look at some of the key statistics and trends from the report:

  • Ransomware remains the most prominent malware threat. In 2019, 89% of MSPs report ransomware as the most common malware threat to SMBs.
    • In Australia and New Zealand, 89% of MSPs report attacks against SMBs in the last two years, the highest rate globally.
  • The average ransom requested by hackers is increasing. MSPs report the average requested ransom for SMBs is ~$4,300 AUD.
  • Downtime costs up by 75% year-over-year, and the cost of downtime is 24 times greater than the average ransom requested in 2019.
  • 94% of MSPs report that clients with BCDR solutions in place are less likely to experience significant downtime during a ransomware attack. 3 in 4 MSPs also report that victimised clients with BCDR in place recovered from the attack in 24 hours, or less.
  • MSPs rank phishing emails as the leading cause of successful attacks. Lack of cyber security education, weak passwords, and poor user practices are among the other top causes.

To find out more about the current ransomware trends and learn what you can do to avoid falling victim, check out the full report today.

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