After the success of our global ransomware report, we segmented responses from Canadian managed service providers to create a report for the Canadian market.
This new report provides a look into the ransomware epidemic from the perspective of Canadian MSPs. Like the global report, this provides details on ransomware trends, targets, and recommendations for ensuring recovery from an attack.
Here are a few key findings from the report:
The spike in ransomware attacks lead to millions in downtime-related costs for SMBs. In Canada, an estimated 4 percent of small to medium-sized businesses fell victim to the malware from Q2 2016-Q2 2017. The total cost of downtime from these attacks: $5.7 Million.
Ransomware attacks will continue to thrive over the next two years. According to 98 percent of MSPs, the frequency of SMB targeted attacks will continue to increase over the next two years.
Canadian MSPs reported the leading cause being phishing emails, showing that CASL laws (with penalties up to $10 million) are not discouraging hackers from carrying out cyber attacks via email.
To find out more about ransomware in the Canadian market and what you can do to avoid becoming a victim, check out the full report.