The Latest / Data Security News
May 29, 2018
The use of corporate data backup and recovery solutions could perhaps be partially credited for the drop in ransomware reported by the FBI’s Internet Crime Complaint Center (IC3). The IC3 reported 301,000 complaints of internet cyber attacks from U.S companies in 2017, costing organizations $1.4 billion, but ransomware was by far one of the smaller types of attacks recorded.
Corporate data backup and recovery solutions seem to have improved. The major WannaCry ransomware attack of last year might not have been welcome at the time, causing global issues, but it did also cause a huge increase of awareness in these kinds of attacks.
Organizations became much more aware that these kinds of attacks existed and were exposed to a wide variety of information on how to respond. Mark Foster of Mecklenburg County, North Carolina, recently spoke at an event about how a ransomware attack in December of this year nearly forced a payment from the government organization. However, after assessing its cybersecurity capabilities, the county realized they had the ability to bounce back for less than the cost of paying the ransom.
Better cybersecurity tools for corporate data backup and recovery could be helping to turn the tide. The IC3 received 2,673 complaints of ransomware in 2016, and only 1,783 last year.
However, the FBI’s IC3 numbers must be taken with a pinch of salt. The FBI can only report on what they are told and certainly a large number of attacks go unreported by victims. And even though the number of Ransomware incidents dropped, the money stolen only fell from $2.4 million to £2.3 million from 2016 to 2017.
Non-payment/non-delivery scams, personal data breaches, and phishing attacks all featured heavily in the numbers reported by the IC3 report this year. Donna Gregory, chief of the IC3, said:
“We want to encourage everyone who suspects they have been victimized by online fraudsters to report it to us. The more data we have, the more effective we can be in raising public awareness, reducing the number of victims who fall prey to these schemes, and increasing the number of criminals who are identified and brought to justice.”
The extent of ransomware and cybercrime could be just as high as ever. When organizations are reluctant to be open about such topics, it’s hard to tell.
Corporate backup and recovery solutions are the best way organizations can defend themselves against ransomware attacks. If done diligently and effectively, organizations can just roll back to a time before they were infected by the malware, rendering the attack useless. The downtime and recovery is far less expensive than paying a ransom and avoiding paying a ransom is important. When you pay a ransom you only encourage cybercriminals to carry the same attack out against others and mark yourself as a fruitful target.
Data backup and recovery can be a useful tool in other cybercrime situations and also to help provide a safety net for human error or technical incidents. Find out more about the kind of data backup and recovery we provide here at Global Data Sentinel.