Ransomware is now officially everyone's problem

More than nine out of ten companies have been attacked by ransomware in the past 12 months.

Ugh, if this new survey is to be believed, ransomware is a much bigger threat than we can imagine. Business protection solutions company Datto surveyed more than 1,000 IT service providers all over the world, saying it represents ‘hundreds of thousands of small businesses’. Their results say that 91 per cent of businesses have been attacked by ransomware in the past 12 months. 

Out of those, almost half (40 per cent) have been hit six times, or more, in this relatively short timeframe.  In the United States, these attacks caused $75 billion in damages, with downtime often costing $8,500 or more.  The amount of reporting on the matter does not properly represent the size of the problem, the report suggests, because in many cases, businesses fail to report the attack to the authorities. Almost a third (31 per cent) of organisations experienced multiple attacks in a single day.  

“Ransomware is not about a couple of hacker kids sitting in the basement and messing around,” said Austin McChord, Datto’s CEO. “It’s a major enterprise orchestrated by large and well-funded companies, and it’s becoming a massive problem for businesses, regardless of industry or geographical location. Our survey found that a considerable number of businesses experienced business-threatening downtime as a result of being attacked, and that most attacks sailed right past the anti-viruses and other measures small businesses think will protect them from such cyber-crime."

Ransom demand usually dances between $500 and $2,000 it was said, and it is always requested to be paid in Bitcoin, an anonymous cryptocurrency. In a separate article, we reported how many businesses don’t get their data back even if they pay for it.