What is the Real Cost of a Ransomware Attack?

Undoubtedly, ransomware attacks have become one of the major challenges for businesses today. However, their immense impact on governments, private companies, and individuals come at a tremendous cost, both financial and beyond.

Besides their financial implications, the disruptions of ransomware attacks can cripple the infrastructure of any organization. Therefore, even if an organization does pay a ransom, it still has to deal with the disruptions to its infrastructure, operations, and reputation and may never recover the lost data.

Challenges Faced by Ransomware Attacks

Ransomware attacks continue to increase, making them very common and problematic for all government agencies, businesses, and non-profits. According to several sources, between 2019 and 2021, ransomware attacks increased by 350%, with sums up to hundreds of millions requested in ransom notes.

Figures indicate that ransomware attacks have cost the world an estimated $20 billion in 2021, an amount expected to increase tenfold within the next decade.

Sensitive data is often leaked or destroyed during an attack, and it is a profitable business for those that distribute it through their own channels or resell it.

The effects of a ransomware attack include halted operations, increased liability, disruption to lives (especially in emergency and healthcare services), and substantial financial losses. In many instances, ransomware attacks can prove fatal to citizens with health issues, particularly in the healthcare sector. Added to these dangers, organizations also face losing their reputation and customer trust, which can seriously affect their future presence in their industry.

Unfortunately, even in cases where victims pay the ransom, they usually only receive part of their data back. Therefore, data protection and rapid recovery remain the best way to meet the challenges businesses face, helping them recover quickly.

Copyright: EnduraData

EnduraData EDpCLoud’s Effective Solution

Without a doubt, protecting business data from breaches caused by cyber attacks remains the best way to ensure an organization is not compromised.

EnduraData is meeting the challenge of creating data protection software. The company’s solid reputation and multilevel approaches that augment resilience ensured its recent award as the sole source supplier for Linux Data Replication by the US Social Security Administration (SSA).

“Our approach is a commitment to ensuring hardened operations by reducing the risks of ransomware using various steps and timely alerts,” says CTO and founder of EnduraData, A. El Haddi. He continued, saying, “EDpCLoud helps increase ransomware tolerance.”

The EnduraData EDpCLoud cross-platform solutions provide several approaches to creating multiple data copies on the systems deployed by a company. Companies can use the software across all major operating systems to sync, replicate and move their data safely between their business processes, even across their infrastructure and locations.

Its approach is to enable archives, create unlimited snapshots, replicate across operating systems, and ensure their maintenance in independent containers for recovery on demand. Furthermore, the system allows for server isolation and protects immutable files.

Benefits of Using EnduraData Ransomware Protection

Ransomware attacks often catch organizations unprepared, with some sectors being more vulnerable than others. Unfortunately, malicious software can infiltrate their target in a few hours, often making it difficult to detect. In addition, some software can complete a system takeover in less than an hour.

Maintaining the integrity of all stored data requires covering all areas, like creating multiple copies and storing it in a storage system unrelated to Windows. Therefore, EnduraData takes a multi-pronged approach, including rotating replication schedules, server isolation, keeping last-known good copies, and rotating file change archives on isolated servers.  

Besides these steps, the process includes several watches and alerts to ensure inclusions and exclusions of all incoming data and integration stages. In addition, companies can create multiple server isolations with the software for better protection and use numerous copies to revert to non-modified files if necessary.

EnduraData’s protection and quick recovery systems make it extremely difficult for attackers to access data, but they also allow fast recovery operations.

A good protection and defense strategy from ransomware attacks can provide the best benefits, reducing the risk of downtime that affects any organization’s finances and reputation.

Final Take

The only way to bolster any organization’s defenses against ransomware is to use the correct protection strategy for its networks. Readiness remains the best protection of critical assets through resilience, ensuring that organizations and their clients can never be held hostage. In addition, a good security and defense strategy with EnduraData Software Solutions minimizes the risk of downtime and concerns about the real cost, including financial and reputational losses to any organization.