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Ransomware is Dead | Part 2

Ransomware is Dead Part 2 - Evolve IP
January 11, 2017 / Evolve IP

Evolve IP’s Tim Vogel recently delivered a series of talks at the Nimble Storage booth at HIMSS17 exhibition and conference in Orlando, FL. The 20-minute discussions focused on the topic “Ransomware is Dead: Case Studies in Hybrid Cloud Security and Disaster Recovery.” Tim discussed key statistics from 2016 regarding the rampant growth of ransomware. In addition he shared how the technical foundation of Evolve IP allows us to provide tremendous performance and business continuity benefits to our customers. In effect, even though ransomware attacks are proliferating out of control, Evolve IP’s ability to respond to and navigate our customers around ransomware attacks (which have impacted nearly 90% of the industry in one form or another) effectively renders ransomware “dead”.

Among the key statistics shared in the discussion “Ransomware is Dead” are some fascinating numbers surrounding the growth of the threat:

  • There were more than $1 Billion in ransomware payments in 2016
  • The volume of ransomware attacks quadrupled in 2016
  • There was also a 400% increase in the variations of ransomware attacks

Tim also cited the 2016 Ransomware Response Study by Trend Micro with additional statistical measurements of corporate vulnerability. Among the most interesting are:

  • 53% of companies have already been a victim of ransomware
  • 67% of healthcare see email attachment attacks (this is consistent with the findings of Evolve IP’s in-depth study on Email Vulnerability in Healthcare)
  • 60% say own employees are biggest risk.

That employees are the number one risk is not a new concern. This remains true because the opportunity to directly connect to systems with valid user credentials makes employees a prime target for hackers. Plus, unintentional user error is typically measured as the single largest source of data breaches and successful ransomware attacks. And if Gartner estimates are correct, the 2-3 million successful ransomware attacks that businesses endured in 2016 will double year over year through 2019.

Surprisingly, despite these compelling reasons to protect data, only 51% of businesses plan 2017 investments in backup and DR.

To help illustrate the benefits available to those that choose cloud-based backup and disaster recovery as a service with Evolve IP (DRaaS), the HIMSS discussion shared a recent case study and testimonial. One of Evolve IP’s healthcare customers showcased the value of operating in the cloud in this Halfpenny Video.

Want to learn more? Ransomware 101

Contact Evolve IP at 610-964-8000.

Explore our website for more information about our full suite of data backup and business continuity solutions, as well as our other cloud-based computing and communications services, including: Unified Communications as a Service (UCaasS), Desktop as a Service (DaaS), Virtual Desktops (VDI), and Call Centers. Or contact us today to discuss your interests with of our technical advisors.

Categories: Business Continuity & Disaster Recovery
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