Why Friday’s Global Cyberattack Matters

Why Friday’s Global Cyberattack Matters

By now, you’ve probably read, seen or heard Friday’s news story about the global cyber attack infecting computers in 100+ countries with ‘Wanna Decryptor’ malware that demanded ransom payments from its victims. As a result, hospitals, schools, companies and governments around the world are assessing the damage.

No one has yet claimed responsibility for the attack, but, antivirus provider Avast reported that some 100,000 computers had been infected by the crippling malware and that the “WanaCrypt0r 2.0,” as it is called, ransomware had been detected in 100+ countries with Russia, Ukraine, and Taiwan the top targets.

The malicious software — known as the Wanna Decryptor, or WannaCry — locks a system and its files from use unless money is paid to hackers. Some experts believe was inspired by a National Security Agency toolkit that was leaked last year. The malware typically spreads through email phishing programs and had exploited a known bug in Microsoft Windows’ operating system. It is especially nasty because it acts like a worm — finding security holes in a computer to spread throughout a network.

Microsoft has issued an emergency patch for Windows, encouraging all Windows users to install the patch.

Shocking in its worldwide scale, this is not the first time ransomware has been used. Last year, Hollywood Presbyterian Medical Center forked over $17,000 after suffering a ransomware attack. Friday’s demand — reportedly for $300 of digital currency Bitcoin — is relatively low, according to experts, but the threat is real.

Here’s why it matters

While this attack affected hospitals, companies of all sizes and governments, ransomware typically targets those without strong security in place, such as small- and mid-sized companies.

Does the thought of Ransomware keep you up at night?

It should.

It’s a fact: Not only is “getting hacked” a question of when, and not if; but according to the research, only 6% of businesses that suffer a major data loss manage to survive for the long haul. Saving your data can literally save your business. Will you be among the 6%?

Here’s the problem: most smaller organizations cannot justify employing the required Enterprise-level IT security experts, systems and technologies to meet and prevent security attacks. That’s where Stratix Systems can help.

Here are some scary facts that you should know:

Last year, ransomware cost US small businesses upwards of $75 billion in downtime. That’s last year alone!

97% of IT service providers predict that these attacks on businesses will increase significantly in the next 2 years.

9 out of 10 IT service providers report recent ransomware attacks on small businesses.

In the first 6 months of 2016, 60% of IT service providers reported 1 to 5 ransomware attacks on small- and mid-sized businesses. Fully 40% reported 6 or more attacks. And 31% reported multiple ransomware attacks against small- and mid-sized businesses in a single day!

Small- and mid-sized businesses are the easiest targets because they are largely unprotected and unsecured.

Cryptolocker is the most common strain of ransomware, reported by 95% of IT service providers.

Come on, how bad can a ransomware attack be for a small- and mid-sized business?

63% report a ransomware attack lead to business-threatening downtime.

48% report critical data loss as a result of an attack.

Only 6% of businesses that suffer a major data loss manage to survive for the long haul.

According to US Department of Homeland Security and the majority of IT service providers surveyed, the #1 solution for ransomware protection is a rock-solid backup and disaster recovery solution. But here’s the problem: most smaller organizations cannot justify employing the required Enterprise-level IT security experts, systems and technologies to meet and prevent security attacks.

But that’s where Stratix Systems can help.

Start by downloading our Free eBook, “The Business Guide to Ransomware.” Then call us toll-free 1-800-444-2943 to talk with an IT Security expert. Our experienced systems experts would be happy to answer your questions about data and network security, help you explore your options and develop a customized plan for you.

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