A Look at Ransomware in 2019

Oct 16, 2019

A Look at Ransomware in 2019

BY Chris Brunau

Ransomware

Recently, we surveyed over 1,400 managed service providers (MSPs) around the world 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:

  • In the first half of 2019 alone, 56 percent of MSPs report attacks against clients. 15 percent of MSPs report multiple ransomware attacks in a single day.
  • The average ransom requested by hackers is increasing. MSPs report the average requested ransom for SMBs is ~$5,900, increasing by 37 percent, year over year.
  • Downtime costs up by 200 percent year-over-year, and the cost of downtime is 23X greater than the average ransom requested in 2018.
  • 92 percent of MSPs report that clients with business continuity and disaster recovery (BCDR) solutions in place are less likely to experience significant downtime during a ransomware attack. 4 in 5 MSPs also report that victimized clients with BCDR in place recovered from the attack in 24 hours, or fewer.
  • MSPs rank phishing emails as the leading cause of successful attacks. Lack of cybersecurity 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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