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Some ominous cybersecurity stats for Halloween...

46% of small and medium sized businesses have been targeted by ransomware, and a whopping 73% have actually paid the ransom. With spooky season upon us, these scary facts aren't the types of tricks we'd like when we ring a doorbell.

Unfortunately, ransomware attacks are not at all unusual in the SMB community, as 46% of these businesses have been victims. And 73% of those SMBs that have been the targets of ransomware attacks actually have paid a ransom, Infrascale reveals.

Yet, more than a quarter of the total SMB survey group said they lack a plan to mitigate a ransomware attack. And nearly a fifth of the total group said they feel their organization is unprepared for a ransomware attack.

The research is based on a survey of more than 500 C-level executives. CEOs represented 87% of the group. Almost all of the remainder was split between CIOs and CTOs.

“Ransomware is not a new phenomenon,” said Russell P. Reeder, CEO of Infrascale. “However, it is surprising how many businesses are unprepared for a ransomware attack. It is shocking that during a time in which the world should be coming together in the fight against COVID-19, criminals are preying on unsuspecting people and organizations for personal – usually financial – gain. And, in many cases, these bad actors are actually benefiting. With appropriate strategies using preventative measures like internet security and education, and protection measures like data backup and disaster recovery, you should never have to worry about paying ransomware.”

So where do SMB's go from here? Employee education is key, particularly with Covid-related scams. Keeping employees vigilant and aware is the first and likely easiest line of defense companies can set up. For higher level protection, engaging consulting companies (like yours truly!) to run penetration and phishing tests can transform any SMB from a vulnerable piece of low hanging hacker fruit into a citadel of cybersecurity!

Stats source:

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