Ransomware Attack Will Cost Company $95 Million

Ransomware Attack Will Cost Company $95 Million

By Chris Brunau

A recent ransomware attack is estimated to cost a Danish company $95 million. Demant, a hearing aid manufacturer was hit by the attack at the start of September.

The company released few details about the nature of the attack, such as the cause of the infection or if they paid a potential ransom demand. Instead, they simply saying their IT infrastructure was hit with cyber-crime. The attack caused outages in various locations around the globe across several departments.

Nearly a month after the attack, the company is still recovering. Demant said they expect the attack to have long-lasting effects due to lost sales and the inability to fulfill orders.

How to Avoid a Ransomware Attack

This is a reminder that the best way to fight ransomware is by protecting your files and systems and preventing the ransomware in the first place. This is done with a multilayered approach:

  • Use a good quality antivirus program, and patch and update operating systems regularly
  • Educate your users about ransomware and how to detect phishing and social engineering schemes
  • Back up files often — and automatically. While the backup does not prevent infiltration, it does give you an out — instead of paying the ransom, you can restore to a pre-attack status

To learn more about the current landscape of ransomware and how you can avoid falling victim, check out Datto's State of the Channel Ransomware Report.

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